I enter these foreign tax transactions as they are transmitted to me by the broker (my brokerage presents them all). They go to a separate foreign tax account, making tracking easy.
David T. On May 14, 2023, 5:44 PM, at 5:44 PM, Fred Tydeman <tydeman.f...@gmail.com> wrote: >When I get the 1099 DIV forms for mutual funds and stock brokerage >accounts, >I add two transactions dated year end (if this is the only mention of >foreign taxes): > Foreign tax: +xxx (expense) > Dividend: +xxx (income) >for each net foreign tax paid for each security. >I am looking for the total of all the foreign tax entries. > >Other investments, tell me about each gross dividend / interest payment >and >how >much foreign tax was withheld. Those I can enter as each is done. > > > >On Sun, May 14, 2023 at 4:24 PM Ken Farley <farle...@gmail.com> wrote: > >> Form 1116 has cost me at least a couple of iterations of filing my >taxes >> in the past. It would be nice if something told me I needed it...but >> unless I was paying taxes to a foreign nation directly, meaning a >> transaction occurs in one of my accounts, I don't see how I would >have >> it included in this report. Dividends I get, interest received, >capital >> gains, etc. These are all entries into my ledgers that the report can >be >> told to use. The taxes paid that are useful for the Form 1116 tax >credit >> are only known to me when I get my 1099 Forms from my investment >> brokerage. I have absolutely no idea what they will be until I see >that >> entry in the form. So, I don't understand how the tax report in >Gnucash >> would be able to supply you with this information? >> _______________________________________________ >> gnucash-user mailing list >> gnucash-user@gnucash.org >> To update your subscription preferences or to unsubscribe: >> https://lists.gnucash.org/mailman/listinfo/gnucash-user >> ----- >> Please remember to CC this list on all your replies. >> You can do this by using Reply-To-List or Reply-All. >> >_______________________________________________ >gnucash-user mailing list >gnucash-user@gnucash.org >To update your subscription preferences or to unsubscribe: >https://lists.gnucash.org/mailman/listinfo/gnucash-user >----- >Please remember to CC this list on all your replies. >You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
