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Is gross foreign income only qualified dividends and long term capital gains or ordinary dividends added as well? trying to fill out 1116

I am filling out 1116 and totally stumped because it asks for total gross income ,does that mean only box 1a  Ordinary dividends ...or only qualified dividends and long term capital gains?

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DS30
New Member

Is gross foreign income only qualified dividends and long term capital gains or ordinary dividends added as well? trying to fill out 1116

For foreign investment income to report on the Form 1116 from Form 1099-DIV, you will include the combined total of all foreign passive income from the Ordinary dividends (Box 1a) and the amount of Capital gain distribution (Box 2a) as they related to your foreign stock holdings.

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2 Replies
DS30
New Member

Is gross foreign income only qualified dividends and long term capital gains or ordinary dividends added as well? trying to fill out 1116

For foreign investment income to report on the Form 1116 from Form 1099-DIV, you will include the combined total of all foreign passive income from the Ordinary dividends (Box 1a) and the amount of Capital gain distribution (Box 2a) as they related to your foreign stock holdings.

Is gross foreign income only qualified dividends and long term capital gains or ordinary dividends added as well? trying to fill out 1116

I just added up all of 1a. dividends,distributions,short and long term capital gains as they relate to foreign stock holdings,as later on the interview asks  qualified dividends and long term capital gains only from those foreign stock holdings as i heard they are taxed at a different rate.. thanks
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