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Form 1116 - 1099 does not break out Foreign Qualified vs Non-Qualified Dividends

I have two 1099 composites with foreign income and taxes paid.  One of them (TD) shows the breakout of foreign dividends between qualified and non-qualified.  The Schwab 1099 does not have that level of detail.  It shows detail between qualified and non-qual (for all funds, domestic and international) and it has a Foreign Tax Paid and Income Summary that only shows total dividends (no qual vs non-qual breakdown).

 

I am being asked for the amount of qualified foreign dividends while completing the Foreign Tax Credit Computation Worksheet.

 

I will check with Schwab but was wondering if anyone else has run into this? 

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1 Reply
DaveF1006
Expert Alumni

Form 1116 - 1099 does not break out Foreign Qualified vs Non-Qualified Dividends

Yes, there have been questions about this issue and the only way you can sort this out is to contact the broker. This is because the amount of the foreign qualified dividend must be reported in order to claim the foreign tax credit.

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