I paid foreign tax on some of my security investments. The taxes paid are shown on my Vanguard and Merrill Lynch statements. Where do I report these on Turbo Tax?

hellostan · ‎June 4, 2019

HelenaC · ‎June 4, 2019

Do you show foreign tax paid on form 1099-DIV box 7? Usually they're reported on the tax form and you the foreign taxes paid get reported when you enter the tax form. Let me know if this is the case.

ScruffyCurmudgeon · ‎June 4, 2019

See attached PDF showing the process of claiming the credit.

You must first have reported the foreign tax actually paid when you entered the Form 1099-IN or Form 1099-DIV, or possibly the Form 1099-B.

Notes: Foreign source income is the sum of all income received in the Foreign Country on which you paid taxes.
If the only investments that were the source of the tax are mutual funds, instead of entering the country name, you can simply enter "RIC"

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I paid foreign tax on some of my security investments. The taxes paid are shown on my Vanguard and Merrill Lynch statements. Where do I report these on Turbo Tax?