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Need help with a complicated 1099-Combined

jaygar
Level 3

I've got a 1099-Combined from RBC Capital for a client. I understand how to do most of it, but I am unclear about Form 1116, foreign tax and what to put where. Here is the info:

Page 1: 1099-DIV Box 7 - Foreign Income Tax Paid $986
Box 8 - (see detail)

Section - Foreign Income and Withholding Summary

Qualified Dividend - $567
Foreign Tax - $119

Section - Foreign Source Income Summary

Foreign Source Income Amt - $5886
Foreign Qualified Dividend Amt - $3905

Question 1 - Does the Foreign Tax Paid in Box 7 include the $119 listed in the Foreign Income and WH summary?
Question 2 - Do I combine the Foreign Qualified Dividend of $567 with Foreign Qualified Dividend of $3905 for a total Foreign Qualified Dividend of $4472?
Question 3 - Do I enter $5886 from Foreign Source Income Amount in the Total Ordinary Dividends box in the Form 1116 section?

What is the "1099 Taxes" checkbox for?

Any help appreciated!

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2 Comments 2
jaygar
Level 3

I figured out Question 1. I didn't see a section where they totaled up all foreign taxes. Kinda easy to miss in 42 pages! 

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sjrcpa
Level 15

Those RBC Capital 1099s are the worst.


The more I know the more I don’t know.