Looking for Foreign Dividends Received. How do I find that? Is it ordinary dividends with foreign tax paid? Qualified Dividends?

[jnpwll]

Also the foreign tax paid shows as various. Do you know where I find which countries this is? By the way, this is for Fidelity Investments forms.

[DaveF1006]

All this information should be disclosed in a supplementary disclosure statement sent with the 1099. In the the old days, when you claimed a foreign tax credit, you could pick various as an option to report. IRS has tightened up now on that requirement to make the reporting more transparent.

[jnpwll]

Thank you for responding. Though it's not in the supplemental. The countries are not listed, and I'm not clear if Foreign Dividends Received are adding up ordinary dividends or qualified dividends?

[JoannaB2]

The foreign tax are taxes paid on your investment outside the United States.  If you paid foreign tax, it will be entered on form 1116, Foreign Tax Credit, to claim the credit. 

The total foreign sourced qualified dividends and ordinary income are reported on Form 1099-Div or 1099 Consolidated form from the brokerage firms. The amoumt on 1099-Div or 1099-Consolidated of qualified and ordinary dividends were the total amount you needed to report on your income tax.

The qualified dividends are taxed at a capital gain tax rates while ordinary dividends are taxed at a standard federal tax rates.

[805mkf]

I'm still unclear as to how to determine foreign dividends received.  Do you use Dividend Distributions on the 1099-DIV Supplemental Information or there is also a Foreign Tax Summary that provides Total Foreign Income. The latter is a much lower number than the Dividend Distributions.  

It's very confusing so any clarification would be greatly appreciated.

[DaveF1006]

Normally, the amount of foreign dividends is reported in a "statement of additional information" that is included in the 1099-DIV supplemental information. It should list a foreign amount or a foreign source percentage you can use to calculate the portion that is from a foreign country.

If you have a Foreign Tax Summary that specifically lists the amount of Foreign Dividends to report, then you may use that amount.  If the amounts differ, use the amount that is reported in the statement of additional information.

@805mkf

[czrunner1]

I wondered here when I couldn't find the "Foreign Dividends Received" on the 1099-DIV/1099-B that was mailed to me by Fidelity.  However, I have found out that the information is readily available in the online version of the form in the Supplemental Information/Foreign Income and Taxes Summary at the very end of the consolidated statement.  Just wanted to warn people that the hard copy of the forms may be incomplete, and recommend going online for the complete information.