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rajniparu
New Member

I am getting a refund . Can i still claim foreign tax credit which is on my 1099-div ?

 
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3 Replies
pk
Level 15
Level 15

I am getting a refund . Can i still claim foreign tax credit which is on my 1099-div ?

If you have  foreign taxes paid  and associated with foreign income , you should be able to claim the foreign tax credit --- just tell TurboTax that you have  foreign tax credit to claim ( when you enter 1099-DIV or broker's consolidated statement ) the credit --- if the amount is $400 or less , then  you don't even have to fill out a form 1116.  TurboTax will do it all for you.

 

Anonymous
Not applicable

I am getting a refund . Can i still claim foreign tax credit which is on my 1099-div ?

the amount to avoid having to file 1116 is $300 not $400.  if married $600 

pk
Level 15
Level 15

I am getting a refund . Can i still claim foreign tax credit which is on my 1099-div ?

@rajniparu , I stand corrected by @Anonymous , the current cut-off ( for not requiring a form 1116 ) is as stated in his reply.  Please note that TurboTax will do the needful and you do not have to worry about whether you need the form or not and/or how to fill it out ( mostly)

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