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 1099DIV:    • IRS Form 1099DIV 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 1099DIV is generally filed to report dividends and other distributions. Generally, most taxpayers will receive a Form 1099DIV 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 1099DIV. Foreign taxes paid on Form 1099DIV 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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