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Level 2
posted Feb 27, 2023 9:51:59 AM

foreign dividends

In dealing with the foreign tax credit issue, I am asked to state the amount of foreign income or dividends we received. We had one mutual fund which received foreign dividends and paid foreign taxes. At the end of the 1099, the statement lists the percentage of the dividends from that fund that are from foreign sources. I assume to calculate the amount of foreign income, it is simply a matter of multiplying the total amount of foreign income or dividends by the percentage attributed to foreign sources, correct?

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1 Replies
Expert Alumni
Feb 27, 2023 10:04:55 AM

Yes, that is a valid method to report your foreign dividends, if your broker is not explicitly showing you the amount from foreign sources.