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foreign tax credit

I have multiple 1099-Div with foreign income.  One of these has multiple countries.  After I report income from one of the countries, turbo tax does not give me the option of going back to that 1099-div for another country.  What should I do?

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1 Best answer

Accepted Solutions
MaryK4
Expert Alumni

foreign tax credit

You can either "create" additional 1099-DIV to separate out the individual countries for the 1116 entry or there was a various choice for country. 

@Ted80

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5 Replies
ThomasM125
Expert Alumni

foreign tax credit

You can make several entries for the same 1099-DIV, as long as the total agrees with the total on the form 1099-DIV.

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foreign tax credit

My problem is that the turbo tax "interview" for my second country is not giving me the option of choosing the  1099-div that was used for the first country. 

MaryK4
Expert Alumni

foreign tax credit

You can either "create" additional 1099-DIV to separate out the individual countries for the 1116 entry or there was a various choice for country. 

@Ted80

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

foreign tax credit

Now I see that I will have to break up the 1099-div into pieces for each country.  Using "various" would be easier, but I interpret the turbo tax instructions to say that if I have the by-country information I can't use "various."  However, one of the guidelines from one source said the IRS no longer requires reporting by country.  Do you know if "various" can be used even if the by-country information is supplied?  Also, does "various" encompass RIC?

JohnB5677
Expert Alumni

foreign tax credit

You do have the option of selecting Various if there are multiple country entries.

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