Foreign oil and tax credits

[dwr130]

I paid taxes and received dividends for Royal Dutch Shell in UK. Does this need to excluded from foreign tax credits because it is "income related to foreign oil"?

[rogge1722]

Are these dividends from a UK brokerage firm or from a US broker?

[dwr130]

They are from Royal Dutch Shell a UK based company. Owned in Charles Schwab account.

[rogge1722]

Are you sure foreign taxes were paid for Shell?  Dividends from the UK should not have any foreign taxes withheld unless it is a REIT.

[dwr130]

It says Royal Dutch Shell F under foreign taxes paid. Total in tax is $63. I appreciate you responding!

[rogge1722 · Accepted solution]

You can take a credit or that foreign tax paid. It is dividend income and not directly oil related.

[dwr130]

Thanks so much! I am wondering if you also have any idea about the question I posted here, <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4610859">https://ttlc.intuit.com/questions/4610859</a>