This income is from a foreign corporation in which I have a small (less than
10%) ownership position. A tax tax
lawyer has advised that it should be treated as a qualified dividend.
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If you don't wan to work directly in Forms mode, and assuming you paid no foreign tax on these dividends, just enter 1099-DIV in the Find box on the upper right of the screen,
hit Enter,
then the Jump To that appears.
You'll enter it just as though you received a 1099-DIV. The IRS doesn't care, we just show the form for your convenience. Enter the amount in both 1a and 1b. Qualified Dividends can only be a portion, up to 100%, of regular dividends, so you need both boxes. Enter the Company name in Received From. Enter the numbers in US dollars, of course, using the pay date to convert.
If you don't wan to work directly in Forms mode, and assuming you paid no foreign tax on these dividends, just enter 1099-DIV in the Find box on the upper right of the screen,
hit Enter,
then the Jump To that appears.
You'll enter it just as though you received a 1099-DIV. The IRS doesn't care, we just show the form for your convenience. Enter the amount in both 1a and 1b. Qualified Dividends can only be a portion, up to 100%, of regular dividends, so you need both boxes. Enter the Company name in Received From. Enter the numbers in US dollars, of course, using the pay date to convert.
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