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For purposes of filing Form 1116 (Foreign Tax Credit), I have to correlate foreign taxes paid to the amount of dividends paid by foreign stocks. Is this something I can request from my brokerage, or do I have to track this myself?

(On my 1099, my brokerage only lists the total amount of all dividends paid, and the total amount of foreign taxes paid, but no separate the amount of foreign taxes paid.)

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Your broker should be able to provide you with the amount of foreign dividends. Most brokerage statements have an expanded section after the 1099s with dividend details, realised gains and losses, margin interest, investment fees and other detailed information that is not reported to the IRS.

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What sums are we talking about? If it's a low amount of taxes paid, you don't need that information. See here for explanation.

  • Thanks, this is good to know; in my case, it's more than $300 so I will need to file the 1116. – Tony the Pony Jul 14 '11 at 21:31

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