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E
EZ3
March 20, 2025
Question

RE Foreign tax pain on dividends from foreign funds - what is a RIC

  • March 20, 2025
  • 1 reply
  • 0 views

IRS description is vague on this topic, so please advise:

regarding foreign tax pain on foreign securities - when these stocks are held and managed by say Raymond James or Goldman as part of a managed portfolio can RJ or Goldman be considered RICs?

I need to know if within Turbotax can I report them as a lump under the RIC option, or do I need to itemize them? Either way they get reported, but it would be much easier  to lump it.

    1 reply

    M
    mglauner
    March 25, 2025

    Yes, for Foreign Tax Paid from an investment account, you can enter them as a total for country 'RIC', as well as the amount of dividends received. 

     

    Here's more info on Claiming the Foreign Tax Credit and Foreign Dividends. 

     

    @EZ3 

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