04-02-2008, 12:34 AM
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 Re: reporting foreign tax paid "Jeff" <Willliam[at]naol.com> writes: - quote - > My question is: because of that one account where the 1099DIV reports a
Yes.> foreign tax over $600 do I need to also enter all the small amounts from > the other 1099 DIVs in the 1116 - quote - > - or - do I just use the Form 1116 for
No.> the one 1099-DIV that is over $600 and take the credit for the others > without including them in the 1116? -- Rich Carreiro rlc-news[at]rlcarr.com -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
04-02-2008, 12:01 AM
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| reporting foreign tax paid I have several accounts where foreign taxes were paid. Many are small amounts in 1099-DIV from the broker but one is over $600 and therefore requires a Form 1116. My question is: because of that one account where the 1099DIV reports a foreign tax over $600 do I need to also enter all the small amounts from the other 1099 DIVs in the 1116 - or - do I just use the Form 1116 for the one 1099-DIV that is over $600 and take the credit for the others without including them in the 1116? Hope I am clear. Jeff -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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| foreign, paid, reporting, tax |
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