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    samarpitbhatia's Avatar
    samarpitbhatia Posts: 1, Reputation: 1
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    #1

    Jun 3, 2015, 11:20 PM
    Year 2014 1099 OID form but nowhere to report Foreign tax paid
    Hi,

    I've Fixed deposits in Citibank India. Citibank issued me 1099 OID form with the total interest in all deposits and the OID amount (about 1600$). They deduct 30% India tax when those deposits mature but they didn't mention that anywhere. I think the 1099-OID form changed in 2014, previously it used to have a box for foreign tax paid but not anymore.

    How do I report this 1099 OID in my 2014 tax return? Where do I claim the 30% foreign taxes paid on the OID amount?

    Thanks
    Sam
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jun 4, 2015, 12:32 AM
    The interest income is reported on Schedule B.

    The Indian taxes paid TDS is claimed on Form 1116.
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