☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Mar 22, 2021 2:59:52 PM

I just received a Puerto Rico Form 480.6C for Dividends and 1099-div

I just received a Puerto Rico Form 480.6C for Dividends and 1099-div, I want to know do I have to file both or will the 1099-div be ok since it states the same information on it as the 480.6C. I have a regular account on TD  

1 4 13750
4 Replies
Expert Alumni
Mar 22, 2021 3:23:52 PM

Form 480.6C is intended for non-residents of Puerto Rico. It covers investment income that has been subject to Puerto Rico source withholding. This form is for information only.

 

You should only enter form 1099-DIV in your tax return.

Level 1
Mar 22, 2021 3:34:39 PM

Thank you

New Member
Apr 25, 2021 9:31:43 AM

How did you enter the amount withheld on line 6 of form 480.6C? I'm unsure where to put it. If in Box 4 - Federal income tax withheld or Box 7 - Foreign tax paid.

Expert Alumni
Apr 27, 2021 8:40:06 PM

Puerto Rico belongs to the United States and most of its residents are U.S. citizens, the income earned in Puerto Rico is considered "foreign- source income” As a result,  taxes paid will be reported in Box 7 under Foreign Taxes paid.