Question

Foreign Income

Forum|Forum|1 year ago
February 24, 2025
2 replies
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After running smart check, I was taken to a form where I had to list foreign income from my Fidelity account, such as Canada, Denmark, Japan, but I missed one and can’t find where to add these two both International Index funds (RIC). Additionally, as a Maryland resident, do I need to add this total back in when do this return?

To clarify, what form were you taken back to. Was it a 1099 DIV, 1099 INT, or in the section where the foreign tax credit is reported? if possible, can you send a screenshot of the form?

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Dsf4manAuthor

I wish I could but it was pop up window and once I completed it closed and now can't find to add one that I missed. I had a check box and then window open and it was table where I entered a discription and $. And are you able to answer the 2nd question regarding MD. Thanks

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Dsf4manAuthor

I've printed out as a PDF and it doesn't show..must be a schedule that not need?

DaveF1006

No. This total should be reflected in your Maryland income. You do not need to do anything additional. As far as where the information was reported, it may have been reported in the section where you reported the 1099 DIV or could be have been recorded in the Foreign tax Credit Section.

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Dsf4manAuthor

You're saying that I do not have to add this foreign income to my Maryland state form? I've looked under 1099 DIV and don't see where it shows the counties that I listed. And when I go to Foreign Tax Credit I get this and am afraid to answer " Since you earned money in another country, this credit could reduce your taxes here in the state. You're Paid foreign taxes during 2024 and previously chosen to deduct those taxes on Schedule A. Do you now want to try using the foreign tax credit instead of deducting all your foreign taxes on Schedule A? I need to answer Yes or No. Do you think that if I answer yes, it'll take to where I listed to counties and may add the one that I missed. Thanks for all your help