1040-US: Enter foreign taxes paid on interest and dividends

Alerts and notices

Question

How do I enter foreign taxes paid on interest and dividends?

Answer

Enter the amount of foreign taxes paid on foreign investments in the Interest income and Dividend income statements and the Foreign Tax Paid column in Screen B&D or Screen Broker. The amount(s) you enter calculate the foreign source income on Form 1116. Use the Foreign Amt (If different) column in the Interest income statement and the Foreign Ord Div, Foreign Qual Div, and Foreign Cap Gain columns in the Dividend income statement if the foreign source income is different from the amounts reported on Schedule B.

For additional information on these statements and the foreign columns within them, see the Screen B&D help.

Note: If the foreign columns are not visible in the statements, you can click the globe show foreign columns button on the toolbar or select Foreign Columns from the Column menu. To permanently enable the foreign columns, choose Setup > User Preferences > Data Entry tab and mark Show foreign columns in statements.

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