Skip to main content
June 2, 2019
Question

If I don't know the foreign countries that are on my 1099-int and 1099 div, how can I bypass the error on these forms?

  • June 2, 2019
  • 1 reply
  • 0 views

I put in "various" for the foreign tax.  My TurboTax is showing an error on the two forms 1099-int and 1099-div.  It wants me to list the countries and fill out a form 1116.  I do not know the foreign countries.  How can I get rid of the error on these two forms?

1 reply

Employee
June 2, 2019

In addition to the 1099-DIV, the broker/payer normally issues a document usually referred to as “Statement of Additional Information” or “Year-End Summary Information” or similarly titled.  With this document, the starting point is the Foreign Tax data.  It will list all the companies, the country and the tax paid by each company.  Then cull through the qualified and unqualified lists to locate each company and extract the dividends paid.

For mutual funds that are “Global”, somewhere on their website they will have a list of all the funds that have domestic/foreign dividends paid and will give a ratio that you can use to calculate the foreign amount.