I am trying to take a foreign tax credit from 2 international mutual funds, (Harbor International, and also UMB Scout international, Schwab, who is holding these funds for me, reports on my 1099-Div, line 6, that the total amount of foreign tax paid for the two funds is $169.39. I should not have to fill out form 1116 since this amount is below $300. When I am filling out the part for form 1099-Div. it asks for the foreign tax paid and I enter $169.39. On the next line it asks for "Foreign Country" and I don't know what to put here. I am using "Tax Act online and am getting an alert about this. What do I enter for "Foreign Country"? There are a lot of them in this mutual fund and I don't know what they are or anything else about them. I thought that you entered "Various" in a situation like this.
- posted
15 years ago