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toddrstone94
April 2, 2025
Question

I am filing a 1040 with a 1116. The taxes were pd by a mutual fund. Is an explanation statement necessary? I have no other foreign income/assets. If so, what do I say?

  • April 2, 2025
  • 1 reply
  • 0 views
The income is applicable to one mutual fund which holds international investments. The taxes were reported on a 1099DIV.

1 reply

AmyC
AmyC
April 2, 2025

Your funds were invested in a Regulated Investment Company (RIC) so that is the option you select when presented with the foreign countries and that is your entire explanation for a statement.

 

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