Question

Foreign Tax Paid

Forum|Forum|1 year ago
February 22, 2025
1 reply
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I’m a US citizen and have imported data from my brokerage but don't see an amount entered under "Estimate and Other Taxes Paid" for Foreign Tax. The imported forms include only 1099-B and 1099-DIV. Should I manually enter the foreign tax paid amount from the 1099-DIV summary under "Estimate and Other Taxes Paid"?

D

DavidD66

No. Amounts listed under "Estimate and Other Taxes Paid" is federal income tax paid. Foreign tax paid will appear on Form 1116 - Foreign Tax Credit, if required. A credit for Foreign Tax Paid will appear on Schedule 3 of Form 1040, line 1. This credit will flow to Form 1040, line 20. You can review your Form 1040 as follows: