turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

should I claim a foreign tax credit if the foreign income is from mutual funds?

I paid $1500 in foreign taxes. My Vanguard statement lists percentages of foreign income in specific mutual funds, but does not list any individual countries.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
SusanY1
Expert Alumni

should I claim a foreign tax credit if the foreign income is from mutual funds?

Yes, you want to claim a credit for this.  The country entry used for this will be "RIC" or Registered Investment Company (another word for "mutual fund").  

TurboTax will walk you through gathering this in the foreign tax credit section - and you will likely need to determine the income amount from those percentages provided by Vanguard and enter it during that interview. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question