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Visitor II

Entering foreign tax dividend income

I am now living in the UK and after a few years paying a lot of money to have my US return prepared I am trying TT.  I am stuck where to enter the dividend income that I received from stock that I was awarded as part of my UK compensation from my UK company.  I have entered it in the foreign income section and as my tax rate in the UK is higher than the 39.6 in the US I have followed the instructions and entered it on the 1116 form under general (high tax kick out) - I have included the UK tax paid as part of the foreign credit.  Am I doing this correctly?  Elsewhere it appears to indicate that I should enter this dividend income in the DIV-1099 section but I assume I should not enter it twice?  

Grateful for any guidance- I seem to get 2 different answers.

1 Comment
TurboTax Specialist

Entering foreign tax dividend income

You are correct, you should not enter this information twice.  Report your foreign dividends in the 1099-DIV section of TurboTax, even if you do not have a 1099-DIV tax document.  You can include the foreign taxes paid in this section as well.  TurboTax will then carry over the information to Form 1116, where you will answer more questions about the foreign taxes paid when you revisit that part of your return.


For additional information, see TurboTaxMargaretL's excellent response to a similar question by clicking the link below.