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gaurjune9
New Member

I received dividends in my India brokerage account. While entering them in US tax return, should I classify that as qualified dividend or ordinary dividend?

 
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4 Replies

I received dividends in my India brokerage account. While entering them in US tax return, should I classify that as qualified dividend or ordinary dividend?

use the same holding period rule that you would use in a US based brokerage account.
IsabellaG
Expert Alumni

I received dividends in my India brokerage account. While entering them in US tax return, should I classify that as qualified dividend or ordinary dividend?

See the answer below from TurboTax GeoffreyG. Pages 66 and 67 of IRS Publication 17 addresses this question, along with a Table 8-1 showing the countries that have treaties with the US for qualified foreign corporations (India is one of them). 

https://ttlc.intuit.com/replies/5976468

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gaurjune9
New Member

I received dividends in my India brokerage account. While entering them in US tax return, should I classify that as qualified dividend or ordinary dividend?

In the above answer, do the foreign company need to meet either of the requirements or all of them?
IsabellaG
Expert Alumni

I received dividends in my India brokerage account. While entering them in US tax return, should I classify that as qualified dividend or ordinary dividend?

If you read the link to IRS Publication 17, A foreign corporation is a qualified foreign corporation if it meets ANY of the  conditions.
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