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Solved

Foreign Soucre Income on k-3 coded as US

Forum|Forum|11 months ago
April 8, 2025
2 replies
0 views

I have foreign source income (qualified dividends) reported to me on schedule k-3, Part II section 1, line 8. The country code associated with this income is US, which is the United States. I am an American so I do not know why US income is being reported to me as foreign source income on schedule k-3. Do I report this "US" coded income as foreign source income when completing form 1116? Or do I assume the income is sourced from the US and not report it on Form 1116?

Best answer by AmyC

We don't know if it is US income or income re-sourced under a treaty to be US income or if there is something else going on.

You should report the income as reported but you can't file a foreign tax credit for US tax. If you are showing US tax paid, that may need to be entered under other tax paid rather than foreign tax paid.

If the US tax is reported on the 1099 and entered, great. If not, you will need to enter it as other tax paid not on a w2 or 1099.

AmyCAnswer

Employee

We don't know if it is US income or income re-sourced under a treaty to be US income or if there is something else going on.

You should report the income as reported but you can't file a foreign tax credit for US tax. If you are showing US tax paid, that may need to be entered under other tax paid rather than foreign tax paid.

If the US tax is reported on the 1099 and entered, great. If not, you will need to enter it as other tax paid not on a w2 or 1099.

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what column? if it's A, you can ignore the k-3. this situation is meant for individuals filing non--resident returns.

MAC18Author

It was in column C