If I entered 3 countries of Foreign Taxes Paid with amounts totalling $693 why is the Foreign Tax Credit showing $0.00?

I also included Total Ordinary Dividends for each of the 3 counties.

654

Level 15

Apr 9, 2025 2:07:13 AM

to properly report the FTC you must report all the foreign source income. it may only be the nonqualified portion of dividends but may also include the qualified portion. the FTC reporting in the 1099 or supplement should give you this info

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for the FTC, form 1116, to work, you must 1) select to take the credit; 2) link the 1099 worksheet to form 1116; 3) select the column on the 1116 to be used A for the first B for the second and C for the third. 4) enter the total FSI and 5) select the country, which can include RIC - regulated investment company, HTKO - high tax kick-out, 909 income, or even various.

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If I entered 3 countries of Foreign Taxes Paid with amounts totalling $693 why is the Foreign Tax Credit showing $0.00?