IRS Form 1099-DIV with Foreign Taxes Paid - Foreign Tax Credit Form 1116

For other videos on the Foreign Tax Credit and Form 1116:

How to file Schedule B of Form 1116:    • How to Fill in Schedule B of Form 111...  
Adjustments for Qualified Dividends:    • How to File Form 1116 with Adjustment...  
How to file Form 1116:    • How to File IRS Form 1116 (Foreign Ta...  
Form 1116 and Form 1099-DIV:    • IRS Form 1099-DIV with Foreign Taxes ...  
Form 1116 with Foreign Compensation:    • How to File IRS Form 1116 for a Forei...  

For more videos on claiming foreign tax credits on Form 1116:
   • International Tax Forms and Topics  

Form 1099-DIV is generally filed to report dividends and other distributions. Generally, most taxpayers will receive a Form 1099-DIV with only boxes 1 & 2 completed for ordinary and qualified dividend income.

However, if the shareholder is invested in RICs or REIT investments, they may find other fields completed on Form 1099-DIV. Foreign taxes paid on Form 1099-DIV represent foreign taxes paid on foreign source dividend income.

U.S. taxpayers are required to report all income (foreign & U.S. sourced). Taxpayers may be eligible for a foreign tax credit against the net foreign source taxable income.

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