1099-DIV Foreign Dividends?

Forum|Forum|1 year ago
February 5, 2025
2 replies
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A company recently transitioned people to "brokerage" from 'regular'. I used to import with ease but now I find I have to manually enter some stuff. I looked for tax papers on the site, and got them all. The 1099-DIV lists all dividends and Foreign Tax paid. But TT is asking what part of the listed dividends are foreign. I have no idea, and they are not broken out. And it isn't "obvious" . I can't find the info anywhere in my tax info. Any ideas?

THank you

Best answer by pk12_2

@Tracer-x , if the brokerage has not provide you with the back-up documentation ( like a Mutual fund provides percentage of investment in foreign stocks ( and countries ) and thus you can compute the share of the dividend that is foreign source , by country, you have no choice but calling your broker to give you the details.

Sometimes they may tell you "various" but still a percentage of "foreign-various countries ).

Is there more I can do for you ?

pk12_2Answer

Employee

Sometimes they may tell you "various" but still a percentage of "foreign-various countries ).

Is there more I can do for you ?

AmyC

Employee

You must have foreign tax paid on your tax form. There should be a detail page which lists the foreign dividends -with a percentage amount. It could be just one line in the stack of forms or it may have a list of countries.

If this is a regulated investment company, you can elect RIC on the foreign tax credit. Otherwise, you need the countries to claim the foreign tax credit.

For Example: Brazil 1.3%

This lets you know that 1.3% of you investment is in Brazil.

Or, your paperwork may just say foreign because the company is investing only in countries allowed for the foreign credit

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pk12_2

Employee

@Tracer-x while I agree with my colleague @AmyC for her detailed response, note that dividends generally reported on 1099-Div, when , and if ., below the safe harbor amount ( US$300 per filer ) may not need much detail. If you have to use form 1116 ( because the foreign tax amount is above the safe harbor amount ) then yes you will need to provide the details as suggested by @AmyC .

Note the answers her are general because we have insufficient details. Please consider getting more details from your broker.