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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
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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.
Thank you
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.
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.
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