Foreign Tax Credit and Foregin Dividend Income Question
On form 1099-div, there was foreign taxes paid tied to dividends paid out on one security. It is strange because an adjustment was made that makes qualified dividend amount exceed ordinary dividend amount. The specifics are: ordinary dividend amount was $172 paid in 2023, ordinary dividend paid/adjusted in 2024 for 2023 $(160.35), total ordinary dividend amount = $12. Then for qualified dividend (same security): $0 was paid out in 2023, then $170 was paid/adjusted in 2024 for 2023, total qualified dividend = $170. You see how qualified dividend amount ($170) exceeds the ordinary dividend amount ($12). How am I supposed to account for this on form 1116?
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