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Author Topic: foreign tax paid Vanguard 1099-Div schedule B help  (Read 2376 times)

frugalnacho

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foreign tax paid Vanguard 1099-Div schedule B help
« on: February 17, 2018, 07:57:30 PM »
I have a 1099-DIV from vanguard, and in box 6 it gives me foreign tax paid.  I enter that in turbotax, but it's giving me an error.  When I go to form view it shows my schedule B 1099-DIV with the amount I entered in box 6, but the form has 4 subsections and subsection d is asking "Foreign source amount included in dividends".  My 1099 has no subsections so I'm not sure what I'm supposed to put.  Anyone know what I should put? 

The fund is VTIAX if it matters.
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walkwalkwalk

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Re: foreign tax paid Vanguard 1099-Div schedule B help
« Reply #1 on: February 17, 2018, 08:23:01 PM »
I have vanguard and there is a foreign section. Just look through it.
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frugalnacho

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Re: foreign tax paid Vanguard 1099-Div schedule B help
« Reply #2 on: February 17, 2018, 10:04:40 PM »
I see on page 7 it shows a break down of the dividends.  It shows total dividends, then beneath that it shows "Dividends - U.S. Corporations" and "Dividends - Foreign Corporations".  All my dividends are "Dividends - U.S. Corporations" and $0.00 are from the foreign corporations.  Is this what they are asking for in 6d?
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Dollar Slice

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Re: foreign tax paid Vanguard 1099-Div schedule B help
« Reply #3 on: February 17, 2018, 10:30:01 PM »
Does this note (on the bottom of the Vanguard 1099) explain it? Sounds like $0.

"U.S. mutual funds that invest in foreign securities may elect to pass certain foreign taxes paid by the fund on to their shareholders on IRS form 1099-DIV; however, because the funds are U.S. corporations, the dividends paid by the funds are considered U.S. source dividends."
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frugalnacho

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Re: foreign tax paid Vanguard 1099-Div schedule B help
« Reply #4 on: February 17, 2018, 10:59:46 PM »
Quote from: Dollar Slice on February 17, 2018, 10:30:01 PM
Does this note (on the bottom of the Vanguard 1099) explain it? Sounds like $0.

"U.S. mutual funds that invest in foreign securities may elect to pass certain foreign taxes paid by the fund on to their shareholders on IRS form 1099-DIV; however, because the funds are U.S. corporations, the dividends paid by the funds are considered U.S. source dividends."

That note is on the bottom of page 7 that shows the break down that I posted in post #3.  It does seem like $0.  This is my first year with international funds in a regular brokerage account
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MDM

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Re: foreign tax paid Vanguard 1099-Div schedule B help
« Reply #5 on: February 17, 2018, 11:44:02 PM »
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frugalnacho

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Re: foreign tax paid Vanguard 1099-Div schedule B help
« Reply #6 on: February 18, 2018, 08:21:34 AM »
Quote from: MDM on February 17, 2018, 11:44:02 PM
Does either Form 1116, what a nightmare. Any tips on how to handle this? or What does "Foreign source amount included in dividends" mean in ... - TurboTax Support help your situation?

Yes the second link is exactly what I needed.  I only had about $20 total tax paid so I'm not filling out form 1116.  Thanks.
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