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jason1578
Returning Member

How much of this income was from foreign countries?

I have a taxable Brokerage account with Vanguard.

I received a Consolidated Form 1099 from Vanguard Brokerage.

Where to find information to answer the following question during TT interview:

"You reported $xxx total income from Vanguard Brokerage. How much of this income was from foreign countries?"

It seems that Consolidated Form 1099 contains information about Foreign Taxes paid, but not about what portion of the income is from foreign countries.

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1 Reply
ErnieS0
Expert Alumni

How much of this income was from foreign countries?

Vanguard reports the percentage of foreign dividends for each mutual fund. You’ll have to multiply the dividends by the foreign income percentage for each fund and add them together.

 

For example, if you received $1,000 in dividends from ABC Fund and the foreign income percentage is 10%, then $100 ($1,000 x 10%) is foreign dividend income.

 

You can also refer to Vanguard’s 2022 Foreign tax credit information for eligible Vanguard funds.

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