Foreign Tax Credit under $600, filing jointly. All passive income...from Dividends. How to report this?

[JO116]

One of the income sources is a well known stock out of Ireland.  The majority of the income is from ETF's, or RIC's.  How do I report this on TurboTax Premier? There is no option allowing reporting both a country and RIC's.

[ErnieS0]

You can claim a foreign tax credit for both RICs and a specific country. If you have foreign tax paid on a 1099-DIV, the amounts will automatically flow to the Foreign Taxes in Deductions & Credits.

After you report foreign taxes from RICs, add a country.

• Type foreign taxes in Search in the upper right
• Select Jump to foreign taxes
• On Tell Us About Your Foreign Taxes choose None of these apply. Continue.
• Take the Credit
• On Where Did You Receive Dividend Income From? choose RIC and Ireland
• On Income From Foreign Countries, select RIC, Report Income and answer the questions
• On Country Summary, select Add a Country and choose Ireland and answer the questions

[JO116]

Followed instructions up to:    Where Did You Receive Dividend Income From?   ....which did not appear. 

Nor did:  Income From Foreign Countries 

Could that be because we are under the $600 Joint Filing  threshold, where Form 1116 isn't required?  

If so, is it OK to use "other source" in Report Foreign Dividends" section,  and "Various" in "Where are Foreign Dividends From"  section?  

And, not use "none of these apply"?

[LinaJ2020 · Accepted solution]

If your total foreign tax paid is less than $600, you do not need a Form 1116 to claim the credit.  You can try to select "Other Source" under Foreign Dividends section and "Various" under Where are Foreign Dividends From section.