Multiple foreign countries on a single 1099-DIV?

[charfman]

my thanks also to rogge1722 for the workaround.  I am mystified why one cannot enter "Various", as one had in the past, as it was much simpler than creating dummy payers for each country.  Like Pappa John, I found that the 1116 form had the dividends incorrectly entered on lines 1i and 1j and appreciated his suggestion to simply edit these lines to 0.

[ingo001]

This is very annoying that Intuit doesn't seem to think it is necessary to modify their code to be compliant with the changed IRS requirement. Shame on you Intuit!

[kdkohmes]

Every year you have to remind yourself what the workaround is for multiple countries and one 1099 and then deal with a bunch of dummy countries and get them in the right order.  It would seem that more individuals diversifying into foreign markets would create an incentive for Turbo Tax to simplify the 1116 procedure for claiming credits for foreign dividend taxes paid.  You have a insane desire to find a better tax software.  Then there is the 8621 form!

[Matilda]

I believe I followed the method and thought it all worked.  However, I have 3 mutual funds.  They have 3 separate 1099 Div and I entered them 3 separate times putting them in order as instructed with my other foreign tax 1099s.  Turbotax put them all together - I only have one RIC country on a 1116and the total dividends does not make sense.  Aren't they supposed to be listed separately but each of them having RIC as the country?  I was it said not to lump all the RICs together so I didnt but turbotax did it for me.

[caschulz2]

This answer recommended answer is from 2 years ago.  Shouldn't this have been fixed by now?  I had the same problem.  1099 step by step lets me select 4 countries, but after inputting one country amount it doesn't let me input the others.  Overriding the imported amount and creating dummy 1099s seems a kludge and likely to interfere with e-file (e.g. overriding calculated fields prevents efile), so I didn't try this and had to give up the foreign tax credit.  

[jsavt]

The general strategy suggested is correct, however, it leads to errors when Turbo Tax attempts to complete the 1116 form.  The reason is that you can't put zero in for box 1a.  You can't be taxed on zero dividends.  The only true work a round it to split out all the data (1a, 1b, 2a, 7) regarding the foreign countries into separate 1099-Div as suggested, but you also have to subtract the 1a, 1b, 2a and 7 data from the original 1099-Div or you will get double taxed.  The problem is that TT assumes that each 1099-Div only has a single foreign country in it.  I agree it is a disgrace that TT has not fixed this so one can enter directly from a single 1099-Div.  I even upgraded to Premier because I though it might work in that program.  I am going to ask for my money back.  Bottom line is that I failed to get my taxes in by the 15th.

[bobbyf47]

The failure of Intuit to address this issue is unacceptable! I bought their tax software to make my tax preparation easier & having to resort to a bunch of rigmarole to make it work right is ridiculous! Hey Intuit, show your customers  you care & fix this mess.

[SDTN]

I think I understand the workaround from a foreign Tax credit perspective, but won't this create a problem with more 1099-div in turbotax than actually received? Will I still be able file electronically?

[Andy310]

Do you mean box 7? Box 6 is investment expenses. Box 7 is foreign tax paid.

[Uncle Willie]

I tried entering $0 on line 1a of the dummy 1099s, but I also entered a foreign source amount, and the foreign source amount can't be larger than the dividends and capital gains. So, I have to go back and adjust all the line 1as in the 1099 DIVs.

[JTM]

rjezz , i found about 4 years ago the message by rogge1722 on how to code TT for foreign tax credits. it works very well.  But I also discovered the problem you identified and i did exactly what you did.  That too worked, so thanks. JTM

[JTM]

Thanks rogge1722 for your post on a fix to TT foreign tax credit issue.  I,ve used your solution for 3 or 4 years and it works great. Thanks. JTM