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qf419700
Level 2
February 23, 2020
Solved

Foreign Assets

  • February 23, 2020
  • 1 reply
  • 8 views
No text available
    Best answer by DavidD66

    No, you don't need to consider it further. Just enter your 1099-DIV/INT/B.  If asked for a country where foreign tax was paid, use "various".

    1 reply

    L
    linaj20201
    Level 14
    February 23, 2020

    What is your question?

    Q
    qf419700Author
    Level 2
    February 23, 2020

    Sorry for the blank screen earlier.  

    Turbo Tax is not clear to me regarding how to handle foreign source income.  I have  2 mutual funds  and 4 stocks  purchased and held in an American brokerage company.  These are not in foreign banks or in trusts. 

    Turbo Tax tries to define foreign assets and it appears that I am not subject to define my assets as foreign but further  questions about the subject confuse the issue. The income from these investments total about $3,464 and my 1099-div shows a foreign tax paid of $248.

    Do I have to consider this foreign income further?

    D
    DavidD66Answer
    Level 15
    February 23, 2020

    No, you don't need to consider it further. Just enter your 1099-DIV/INT/B.  If asked for a country where foreign tax was paid, use "various".

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