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New Member

foreign dividend/income

I received 1099-div  I have total in box 1a and 1b for dividends; then in box 7 total foreign tax paid.  No other info.  How do I find foreign income?  Is it total in box 1a or 1b?


2 Replies
Employee Tax Expert

foreign dividend/income

Please see this answer from macuser.


If the 1099-DIV has a box 7 foreign tax then you should enter the portion of box 1 that generated the foreign tax.  Often that will be the box 1 amount if all the foreign tax came from the same source but in the case of some mutual funds only a portion of box 1 will be what generated the foreign tax. Most brokers list the foreign tax and  the source of that tax somewhere in the composite statements that they send.  

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New Member

foreign dividend/income

Further question, does this mean that since the foreign income in the brokerage statement doesn't match 1099DIV lines 1a and 1b that I subtract them from lines 1a and 1b and report instead under foreign income earned?

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