Form 1116-Foreign Tax Credit error “Adjusted Basis of Total investment assets” and the “Adjusted Basis of investment assets generating foreign income". Don't have.

[ThomasM125]

The foreign taxes should be listed in line 7 of your Form 1099-DIV. You enter the dividend statement in the Wages and Income section, then Interest and Dividends, then Dividends on Form 1099-DIV. It is required to enter the dividend statement.

[Dc187jbja]

This is a first time 1099 DIV.  Grand total of proceeds only 188.00.  The .88 foreign tax paid-- can I just not report this? On Turbo tax do I have a place to report not using it?

[Dc187jbja]

Yes, it is only .88.  Do I have to report this?

[Dc187jbja]

This is true.  First time in the investments. only 188.00 in proceeds. Will I get rejected by not applying this?

[SusanY1]

You won't get rejected if you delete the minimal foreign tax paid.  Feel free to delete that entry and proceed with filing your tax return.

[pk]

@Dc187jbja , but you do have to report the US$188 in dividend and just ignore the US$0.88 entry.

Is there more one of us can do for you /