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Foreign Tax Credit

Forum|Forum|4 years ago
April 17, 2022
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I have 1099-div with many entries for dividends that pay foreign taxes
some lines are listed with VARIOUS under the country column

Is there option for entering various in turbotax on the where did you receive dividend incom from screen

Can I skip the various entries? How come turbo tax can't read this column from the 1099-div and propopulate it

Best answer by Mike9241

if less than $300 ($600 if married filing jointly), form 1116 and no detail are required. the only thing that needs to be entered is the amount of the credit

if yuo exceed these limits just enter the total of the FTC and for country use various.

M

Mike9241Answer

if less than $300 ($600 if married filing jointly), form 1116 and no detail are required. the only thing that needs to be entered is the amount of the credit

if yuo exceed these limits just enter the total of the FTC and for country use various.