Ask Experts Questions for FREE Help !
Ask
    georgeh's Avatar
    georgeh Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 11, 2008, 05:03 AM
    Foreign Tax Credit
    One of my 1099 Div forms is not accurate in reporting foreign dividend income and I want to know if I should file Form 1116 based on the correct amounts or accept the inaccurate
    1099 Div as reported to the IRS?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #2

    Mar 11, 2008, 06:45 AM
    Are you sure it's incorrect? If so, then the broker or company that issued it to you should be willing to send you a corrected 1099-DIV. If you do decide to use figures that differ from the 1099-DIV it will be noticed by the IRS, so you should attach an explanation.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Help me compute US tax liaibility after foreign tax credit [ 2 Answers ]

:eek: A us company Frank expand with a new co (Ana) formation into a foreign host company with a 20% tax on corporate income within its borders. At the end of its fourth yr of operations the foreign corp Ana distributes $100,000 to Frank from its earning and progits previously taxes by the host...

Foreign Tax Credit [ 1 Answers ]

Hello, I came to US In Feb 07 from India. I am getting my Indian salary in US and paying tax on the same in US. For the month of Feb-07, March-07 and April -07, my employer has deducted the tax on my Indian salary in US as well as in India. Thus there is a double taxes. Now while filling...

Form 1116, foreign tax credit: Tax paid vs tax accrued, exchange rates and dates [ 2 Answers ]

Hi, I'm applying for foreign tax credit on taxes I've paid / accrued on interest earned in savings accounts and certificate deposits in New Zealand. For cds, the bank statements don't give precise dates for when taxes were withheld. And so I have several questions relating to form 1116, Part II: ...

Foreign Tax credit [ 5 Answers ]

Hi, Have a question on my eligibility to claim foreign tax credit - My situation is given below - Am a Indian National came to the USA (first time) on Sep20/2006 -Visa -H1B; filing status - Single I receive part of the Salary income in India for the period of stay in the US; this income is...

Tax liaibility after foreign tax credit [ 3 Answers ]

Help me compute US tax liaibility after foreign tax credit

View more questions Search