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Level 2
posted Feb 27, 2023 9:40:23 AM

Multiple countries on form 1116

Two problems with TY 2022 Form 1116: (1) the persistent and ridiculous failure of TT to acknowledge more than one foreign country (I have 3--Canada, Ireland, Switzerland)  in the dialogue to complete Form 1116 foreign source income; and, (2) the 1099-Div from my broker (T.D. Ameritrade) has divided up a portion of dividends from AQNU equity units and shown them on 1099-MISC. The notes indicate that characterization is from AQN, so they are reporting it that way. My problem is, how to report Canadian MISC income, without being forced into Schedule C, which TT does automatically as I walk through it. I can't convince TT the payments (called a "contract fee") is passive income just like dividends and interest. Thanks in advance.

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1 Replies
Level 15
Feb 27, 2023 9:47:26 AM

various as the country worked for me