Dividend Income

MarkRieffel
MarkRieffel Member Posts: 1 Newcomer
edited January 15 in Income

I have dividend income. How does FreeTax handle dividend income in CA and Federal

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Answers

  • GerhardtQ
    GerhardtQ FreeTaxUSA Agent Posts: 11

    To report your dividend income with us, enter your 1099-DIV(s) under 'Income' > 'Dividend Income'. Our software will automatically handle the tax calculations for any ordinary and qualified dividends you may report on those 1099-DIV forms, as well as any Section 199A dividends. We also support the Foreign Tax Credit for any foreign tax withheld from your dividend income.

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  • gpratt
    gpratt Member Posts: 1 Newcomer

    Is foreign tax credit for dividend income supported for more than one country?

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  • KeriC
    KeriC FreeTaxUSA Agent Posts: 97

    If the foreign tax was through an RIC (Regulated Investment Contract) you will be able to indicate that in the software and will not have to enter multiple countries. However, if it was not through an RIC, our software does not support entering multiple country names at this time.

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