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Sorakairi89
March 9, 2022
Question

Foreign income and taxes summary question?

  • March 9, 2022
  • 1 reply
  • 0 views

Total foreign source income utilizes the total column for RICs which may not always be supplied.

 

Qualified foreign source income utilizes the qualified column for RICSs  which may not always be supplied. 

 

This is showing on a consolidated 1099 details on foreign income and taxes summary. 

 

What does this mean and do I have to do anything with it?

    1 reply

    R
    RobertB4444
    March 11, 2022

    RIC just stands for 'Regulated Investment Company'.  There isn't really anything you need to do with it except enter the numbers from your 1099 and make sure they're correct.

     

    Here is a little more info from TurboTax

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