Question

1099 B shows Foreign Tax Paid as negative

Forum|Forum|1 year ago
February 23, 2025
1 reply
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My 1099 B Line 7 shows an amount for Foreign Tax paid, but detail shows negative (Paid/adjusted in 2025 for 2024). Turbo Tax is asking for the portion of total dividends that are from a foreign country. HELP!!

T

ThomasM125

You won't be able to enter a negative foreign tax paid when you enter the dividend into TurboTax. If the adjustment applies to 2025, wait and report the tax in that year.

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R

RBM23Author

Can you be a little more clear? The heading for the column says "Paid/Adjusted in 2025 for 2024". What do I enter in TurboTax when asked "Foreign Dividends Received"?

SusanY1

There should be supplemental information on the 1099-B in the "Dividend details" that provides either the dollar amount or percentage of your dividends that were from foreign sources. Use this number to answer the question about the amount of foreign dividends received.

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