Wealthfront Foreign Dividends, partly RIC others not

Forum|Forum|1 year ago
February 15, 2025
1 reply
0 views

I auto downloaded Wealthfront documents. I have about $1K in foreign taxes paid. I looked at last page of documents and I see about $12K in "interest" not dividend received, and $6K of that total is considered RIC. I assume this is the right section as the taxes paid matches perfectly with page 1 of reported.

Question is for the open field that it's requesting. I got $22K total in dividend, how much of it is from "Foreign dividends" which number am I suppose to include?

1) If I use the $6K number, I can click on the "Mutual Fund/RIC" radio button.

2) but if I put in the $12K, would I select "other source" radio button, and just pick "various" in drop down since it's a mix of RIC and others that I'm not sure which they are?

DaveF1006

The Foreign Dividend amount is usually in a supplemental form that comes with your brokerage statements and tax forms. It is usually expressed as a percentage of total dividends. So if it mentions foreign dividends are XX%, you would multiply the dividends reported in Box 1 of the form and multiply by that percentage to determine the amount of foreign dividends paid.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

Cat_SushiAuthor

I appreciate the answer, but I just double checked the statement. It does give me actual totals. Indeed these are dividend but it's Qualified and Nonqualified.

1) Qualified is $6.8K

2) Non qualified is $5.3K

3) Total foreign dividend income is $12K.

So the question is what number do I put in for the form when it asks me for foreign dividend...sounds like the total $12K... But then the radio buttons are throwing me off since $6.8K of that is RIC and rest is not.

All the above is associated with the foreign taxes paid of $1K.

DaveF1006

This entire amount sounds like Foreign Dividend amount and then it's broken down in Qualified and non-qualified totals. At this point, you may wish to classify the entire amount as RIC or various if you have that option available.

Yes, you would enter $12K as the foreign dividend amount.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"