ATX & Form 1116

[GLJEANNE]

First time I've had to do a 1116, and it's only because Dividends are over $300.  But how do I get ATX to report it as RIC?  It's not listed in the countries drop down, and I haven't found a checkbox for it yet.  I have a a few from other countries, but mostly RIC, and I cannot get it to report the RIC, it just shows it all as one column.
And just now I got a second 1099-DIV where the RIC is a big part of foreign dividends along with over a dozen countries.  Oy.

So, anyone have one of these in ATX and got the RIC to show up somehow?  I don't know how much the IRS cares about it being reported separately.  For the big one, I'm combining all the other countries, though it's going to be a pain anyway, because of course they don't give a total for the lot.

[jklcpa]

from the 1116 instructions:

Quote

Regulated investment company (RIC) pass-through amounts.

You don't need to report income passed through from a mutual fund or other RIC on a country-by-country basis. Total all income, in the applicable category, passed through from the mutual fund or other RIC and enter the total in a single column in Part I. Enter “RIC” on line i. Total all foreign taxes passed through and enter the total on a single line in Part II for the applicable category.

Also, the $300/$600 threshold for needing to file the form 1116 isn't based on the dividend amount, those thresholds are on the foreign taxes paid or withheld, so if the foreign tax is less than $300, or $600 for MFJ, then you don't need to file the form.

[GLJEANNE]

Yes, I know all of that, this is a technical how-to-make-ATX-do-it question.

[Abby Normal]

Just use Other country or Various. I forget which one it is on the 1099-DIV.

[GLJEANNE]

Yeah, that's what I did for the first one.  It's odd that ATX wouldn't have a way to differentiate.  They have the drop down list of countries including some I never even heard of, but no RIC.  Or it's like so much of ATX, some damn checkbox in some place that's not intuitive.  I swear, checkboxes become the bane of my existence every season!

[BulldogTom]

1 hour ago, GLJEANNE said:

Yeah, that's what I did for the first one.  It's odd that ATX wouldn't have a way to differentiate.  They have the drop down list of countries including some I never even heard of, but no RIC.  Or it's like so much of ATX, some damn checkbox in some place that's not intuitive.  I swear, checkboxes become the bane of my existence every season!

@GLJEANNEType in Regulated Investment Company.   

Tom
Longview, TX

[GLJEANNE]

21 minutes ago, BulldogTom said:

@GLJEANNEType in Regulated Investment Company.   

Tom
Longview, TX

Would that you could, there's no ability to override that field. 

[BulldogTom]

Where are you entering from?   On the 1099DIV input, if you will pick the country there, you can put in Regulated Investment Company.   I don't think you can override the field on the 1116 because it is pulling from the DIV entry field.

That is my story and I am sticking to it.....someone should write a song like that....oh yeah, they did.

Tom
Longview, TX

[GLJEANNE]

26 minutes ago, BulldogTom said:

Where are you entering from?   On the 1099DIV input, if you will pick the country there, you can put in Regulated Investment Company.   I don't think you can override the field on the 1116 because it is pulling from the DIV entry field.

That is my story and I am sticking to it.....someone should write a song like that....oh yeah, they did.

Tom
Longview, TX

Ah, ok, this may be the trick, I didn't even know there was a way to do that from the 1099.  I just closed everything down, but I'll try this in the morning, thanks!

[GLJEANNE]

19 hours ago, BulldogTom said:

Where are you entering from?   On the 1099DIV input, if you will pick the country there, you can put in Regulated Investment Company.   I don't think you can override the field on the 1116 because it is pulling from the DIV entry field.

That is my story and I am sticking to it.....someone should write a song like that....oh yeah, they did.

Tom
Longview, TX

Ah, I see what you're saying, Tom - not that there's something else further down the page to indicate it, which was what I was trying to picture last night, but that instead of the usual Various in box 8a, use RIC there to force it onto 1116.  Good tip, I wouldn't even have thought about it!