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Level 2
posted Mar 3, 2024 2:30:49 PM

schedule B - form 1099-DIV BOX 7 (foreign tax paid) is not between prescribed upper and lower limits

i have 0.34 USD reported on my 1099-DIV as foregin tax paid (box 7). I did went through the processand everything was fine however during the smart check it is stating that this value (-0.34) is not between prescribed upper and lower limit.

when i started doing corrections it seems that value needs to be above 0.00....should i just change it from -0.34 to 0.34?

thanks

0 1 385
1 Replies
Level 15
Mar 3, 2024 3:40:02 PM

The IRS rounds values. Since .34 rounds to zero don’t report it.