US stock dividend reporting

For US stock dividend with 15% withholding tax by US government, shall I report the before tax or after tax figure as my income?

Seems to me that I should report the before tax figure and apply for foreign tax credit?

Thanks a lot!

You always report the total dividend paid which includes withholdings for taxes and then claim foreign taxes.

2 Likes

Is this a forum for professional tax preparers, or a free information service for DIYers? Anyone who does not know with certainty the answer to this question should not be preparing tax returns for reward, except as a trainee under close supervision.

Do you know what to do if the federal foreign tax credit is less than the full amount of the foreign tax?

Actually, simply filling in the appropriate forms in TaxCycle will generally lead one to the right result, which is why I asked about DIYers.

1 Like