Question

DIVIDEND INCOME

Forum|Forum|6 years ago
March 8, 2020
1 reply
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I HAVE A 1099-DIV FROM ENBRIDGE INC. THEY ARE IN CANADA. AND I WANTED TO KNOW FOR THE QUESTION OF DO I HAVE AN INTEREST IN OR SIGNATURE AUTHORITY OVER A FINANCIAL ACCOUNT IN A FOREIGN COUNTRY SUCH AS BANK ACCOUNT SECURITIES ACCOUNT OR OTHER FINANCIAL ACCOUNT. DO I ANSWER THIS YES OR NO? THANK YOU.

KathrynG3

It depends. This question applies to people with vlues exceeding $10,000 at any time durin ghte calendar year. This would require filing the FBAR (FinCen 114).

For income reported to you on Form 1099-DIV, report it in the Dividends section. For any foreign tax paid to Canada, follow these steps to enter the details for foreign tax paid.