Question

Foreign source income percentage

Forum|Forum|1 year ago
March 3, 2025
1 reply
0 views

This fund has these details above.

Should I manually input anything in TT, similarly to when I deduct the % of income from US Treasuries from State?

thanks!

Tax Advice

DaveF1006

To clarify, are you asking if you need to do anything additional when you prepare your state return?

@Yuppieswewe

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

Y

YuppiesweweAuthor

yes, or maybe also for federal?

This info is provided by the brokerage firm not in the main 1099 DIV table, but afterwards in a subsection.

thanks!

AmyC

Employee

Your information shows 91.38% qualified for foreign tax credit. The IRS does not allow tax credit to all countries.

Not all states allow the foreign tax credit deduction, but some do. Which state?

Depending on the amount of foreign tax paid, you may not need to fill out the Form 1116. The amount is maximized at $300 or MFJ $600 to be exempt from filing the 1116.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

Foreign source income percentage

1 reply

Unlock tailored help options in your account

Get answers to all your tax questions

Vos impôts avec un expert

Faites vos impôts vous-même

Situations fiscales

Ressources

Experts at your fingertips

Do it yourself

Business taxes

Tax situations

Resources

Unlock tailored help options in your account

Get answers to all your tax questions

Sign up

Login with SSO

Let's get you signed in

Login with SSO

Scanning file for viruses.

This file cannot be downloaded