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Level 4
March 8, 2020
Question

DIVIDEND INCOME

  • March 8, 2020
  • 2 replies
  • 37 views

I HAVE A 1099-DIV FROM ENBRIDGE INC.  THEY ARE IN CANADA. AND I WANTED TO KNOW FOR THE QUESTION OF DO I HAVE AN INTEREST IN OR SIGNATURE AUTHORITY OVER A FINANCIAL ACCOUNT IN A FOREIGN COUNTRY SUCH AS BANK ACCOUNT SECURITIES ACCOUNT OR OTHER FINANCIAL ACCOUNT.  DO I ANSWER THIS YES OR NO? THANK YOU. 

    2 replies

    KathrynG3
    Level 14
    March 8, 2020

    It depends. This question applies to people with vlues exceeding $10,000 at any time durin ghte calendar year. This would require filing the FBAR (FinCen 114).

     

    For income reported to you on Form 1099-DIV, report it in the Dividends section. For any foreign tax paid to Canada, follow these steps to enter the details for foreign tax paid.

    Level 4
    March 8, 2020

    Okay it is not more than that thank you.