I am filing a 1040 with a 1116. The taxes were pd by a mutual fund. Is an explanation statement necessary? I have no other foreign income/assets. If so, what do I say?

The income is applicable to one mutual fund which holds international investments. The taxes were reported on a 1099DIV.

903

Expert Alumni

Apr 2, 2025 4:17:10 PM

Your funds were invested in a Regulated Investment Company (RIC) so that is the option you select when presented with the foreign countries and that is your entire explanation for a statement.

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I am filing a 1040 with a 1116. The taxes were pd by a mutual fund. Is an explanation statement necessary? I have no other foreign income/assets. If so, what do I say?