1040-US: Foreign interest and dividend data entry

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My client paid foreign taxes on interest / dividends. I know that I must enter the interest / dividend income in Screen B&D (or Screen Broker). Do I have to re-enter the foreign income and taxes in Screen 1116?


No. The interest and dividend information entered in the statements attached to the Interest income and Dividend income fields on Screen B&D (or Screen Broker) automatically generate a Screen 1116 using the data entered in the foreign columns.

Also, select the foreign country or possession code and name in Screen B&D (or Screen Broker), or indicate the foreign income was from a mutual fund or other regulated investment company (RIC). If the foreign data is entered accurately in the Interest income or Dividend income statements, a Screen 1116 automatically completes with all the information necessary to calculate the Form 1116. In Screen 1116, you can edit existing information or add more information if necessary.

Related topic: Foreign tax credits and earned income FAQs (1040)

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