FACTA and VANGUARD mutual fund.

hp100 · ‎March 12, 2022

I have a Vanguard Brokerage account, 1099 DIV Box1a shows $1791.29 , Box 7 has foreign tax paid $29.63. It has foreign source income percentage is 31.46%. So 1791.29 x 0.3146 = $564.

For 2021 tax, I have to file FACTA & 1116 for another reason. So do I have to include this $564 to Form 8938 and $30 to Form 1116 ?

RobertB4444 · ‎March 15, 2022

You're just going to enter these amounts in the section for the 1099-DIV. It will be placed by the system on the correct form. And you wouldn't have to file 1116 for only $29.63. So it will be put on to the form you have to file for other reasons.

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