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January 29, 2025
Question

Why does it make me take a $7.00 foreign tax credit. I had NO foreign income

  • January 29, 2025
  • 1 reply
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Why do I keep gettting foreign tax credits

    1 reply

    January 29, 2025

    The foreign tax may be reported in box 6 on a Form 1099-INT or box 7 on a Form 1099-DIV that you received. If so the foreign tax credit would be automatically reported if the amount is under a certain threshold. You may have investments in mutual funds that have foreign stocks in their portfolio.

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