Question

should I claim a foreign tax credit if the foreign income is from mutual funds?

Forum|Forum|1 year ago
March 20, 2025
1 reply
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I paid $1500 in foreign taxes. My Vanguard statement lists percentages of foreign income in specific mutual funds, but does not list any individual countries.

SusanY1

Yes, you want to claim a credit for this. The country entry used for this will be "RIC" or Registered Investment Company (another word for "mutual fund").

TurboTax will walk you through gathering this in the foreign tax credit section - and you will likely need to determine the income amount from those percentages provided by Vanguard and enter it during that interview.

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