How to find the foreign source amount

Forum|Forum|4 years ago
March 29, 2022
10 replies
124 views

I got the following error message asking me to enter the foreign source amount. I looked at my bank 1099-DIV and couldn't find the source amount. Anyone can help me how to fix this issue? Thank you

TurboTax Home & Biz Windows

Best answer by FangxiaL

You should be able to find the information on the pages that list the details on the dividend income. For example, what stocks or mutual funds/ETFs paid dividends and on what dates. The 1099-DIV form should be part of the composite 1099 forms. The foreign tax paid is typically in the last column on a certain page(s).

@fanchunrong

MarilynG

Level 15

Did you enter an amount of Foreign Tax in your 1099-Div entry?

If so, the supplemental info with your 1099-Div should tell you the amount of Foreign Dividends you received (or it may be a % of your Total Dividends).

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tianwaifeixianAuthor

Level 5

The problem is, I can't find on 1099-Div that tells me the source.... Where should I find it?

FangxiaLAnswer

Level 10

@fanchunrong

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Duglus

Level 2

My solution:

There should be a supplemental section in the tax statement which breaks out the details of the summarized 1099-DIV.

Step 1: Identify all entities that were subject to foreign tax. Typically will be in a table titled-

Investment Expenses, Foreign Taxes Paid and Other Fees, or similar.

Step 2: Identify and highlight the (Box-1a) Total Ordinary Dividends paid by an entity that paid foreign tax. Should be listed in a table titled- Dividend Distributions.

Step 3: Add up the Total Ordinary Dividends you received from the entities that paid foreign tax. This IMO is the ‘Foreign Source Amount” of dividends.

'Do you know the only thing that gives me pleasure? It's to see my dividends coming in.'

John D. Rockefeller