Question

I have foreign sourced income in both Mutual Funds and Stocks. Turbo Tax will only let me choose one category. How do I input the amounts from both categories?

Forum|Forum|1 year ago
March 3, 2025
1 reply
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If I choose Mutual Fund/RIC it just ends there with whatever amount I entered. If I choose "Other Source" I only have the choice of one country. I have income from multiple country stocks as well as a mutual fund. How can I enter this income accurately if I only have the choice of one or the other?

P

pk12_2

@jdorcutt44 , are these all reported on one 1099-DIV and one 1099-B ? Are you saying that when you are in the Deductions and Credits tab and under Foreign Tax Credit ( i.e. filling out form 1116 ) TurboTax is not behaving as expected ? If the quantum of the 1099-Div /Int foreign taxes is under/equal to safe harbor amount ( of US$300 per filer on the return ), why not choose that and just keep 1099-B portion ( capital gain/loss ) for 1116?

I will circle back once I hear from you --yes?