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Level 2
posted Feb 24, 2025 9:26:52 AM

Foreign Income

After running smart check, I was taken to a form where I had to list foreign income from my Fidelity account, such as Canada, Denmark, Japan, but I missed one and can’t find where to add these two both International Index funds (RIC). Additionally, as a Maryland resident, do I need to add this total back in when do this return?

 

0 11 1528
11 Replies
Employee Tax Expert
Feb 25, 2025 12:34:09 PM

To clarify, what form were you taken back to.  Was it a 1099 DIV, 1099 INT, or in the section where the foreign tax credit is reported? if possible, can you send a screenshot of the form?

Level 2
Feb 25, 2025 1:21:43 PM

I wish I could but it was pop up window and once I completed it closed and now can't find to add one that I missed. I had a check box and then window open and it was table where I entered a discription and $. And are you able to answer the 2nd question regarding MD. Thanks 

Level 2
Feb 25, 2025 1:23:23 PM

I've printed out as a PDF and it doesn't show..must be a schedule that not need? 

Level 2
Feb 25, 2025 1:34:55 PM

Somewhere I enter income from Canada, Denmark and Japan but don't see it on the 23 pg. PDF 

Employee Tax Expert
Feb 26, 2025 12:45:58 PM

No. This total should be reflected in your Maryland income. You do not need to do anything additional. As far as where the information was reported, it may have been reported in the section where you reported the 1099 DIV or could be have been recorded in the Foreign tax Credit Section.

Level 2
Feb 27, 2025 4:44:37 AM

You're saying that I do not have to add this foreign income to my Maryland state form? I've looked under 1099 DIV and don't see where it shows the counties that I listed.  And when I go to Foreign Tax Credit I get this and am afraid to answer " Since you earned money in another country, this credit could reduce your taxes here in the state.  You're Paid foreign taxes during 2024 and previously chosen to deduct those taxes on Schedule A. Do you now want to try using the foreign tax credit instead of deducting all your foreign taxes on Schedule A? I need to answer Yes or No. Do you think that if I answer yes, it'll take to where I listed to counties and may add the one that I missed. Thanks for all your help 

 

 

 

Employee Tax Expert
Feb 27, 2025 9:36:50 AM

To clarify, are you receiving that message in the Maryland state return or the federal form?

Level 2
Feb 27, 2025 1:10:26 PM

It ask this question when I started my Md return and that's when I realized that missed entering one from my Federal that can't now found to add. 

Employee Tax Expert
Feb 27, 2025 1:46:25 PM

To clarify, which form? Is it from the Foreign Tax Credit section of from the 1099 DIV entry?

 

 

 

 

Level 2
Feb 27, 2025 2:01:01 PM

I've entered the Foreign Income to my federal, except the one amount that I can figure out where to add it.  Not sure if it was taxable but was entered  Here's what it says about my MD return.  Income exempt from Federal return. Hovering I see this. Foreign Income exempt on federal return because of treaty..Generally, foreign earn income that's excluded from your federal should be added back to your Maryland .if your home is permanent in that state

Employee Tax Expert
Feb 28, 2025 6:34:43 AM

To clarify, what is the amount that you unsure if it is taxable or not? Is it a interest or Dividend statement reported on a 1099? What is that one amount you are having an issue with on whether or not to report?  Please be more specific.