Vanguard Foreign Qualified Dividends and l.t capital gains

[JulieKgan]

One of my Vanguard funds (out of 5) has Foreign income and I see the following in my Tax form :

FOREIGN SOURCE INCOME PERCENTAGES
Fgn Source Inc Tot 90.34% Fgn Source Inc Qual 64.50%

TurboTax asks me to enter "Foreign Qualified Dividends and l.t capital gains"

Should I just enter the (Total Dividends & distributions) of that 1 fund and multiply it by 64.50%  or what should I enter for that?

Thank you!

[DavidD66 · Accepted solution]

Yes.  You would multiply the Total Dividends and Distributions for that fund by 0.64, and enter that as the amount of Qualified Foreign Dividends. 

[rogge1722]

During the foreign tax credit interview, it initially asked for the foreign-source income.

That is the amount in the 1099-DIV box 1a  x 0.9034.

Next it asked for the foreign sourced qualified dividends and lt. cap. gains.

That is the amount in the 1099-DIV box 1a x 0.645. 

The lt. cap gains portion is the amount in the 1099-DIV box 2a.  Since the foreign amount cannot be determined, it can be ignored.

[johnkgan]

Thanks rogge1722. But if I have more than 1 Vanguard funds, and only one of them has foreign income, shouldn't I only multiply the Total dividends + distributions only of that fund not with the amount in box 1a because box 1a would include total dividends  + distributions for all funds? Thank you.

[rogge1722]

If Vanguard issued an equivalent box 1a for the one fund with foreign income, that would be used instead of box 1a which serves all funds.