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Author: fleg9bo Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121177  
Subject: Re: 1116 in tax software Date: 3/4/2012 4:10 PM
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I have a similar situation. I own stocks of several foreign companies in more than one account. However, the tax software allows me, and the IRS hasn't complained in past years, to lump together all the foreign taxes paid from my e-Trade account, putting "various" where the country name would go, and also to lump the taxes paid from my Merrill account.

I've been using Form 1116 for about a decade now, lumping everything in three accounts under "various" as well (it's all from the same category -- foreign dividends). I suspect that even if that's not correct, the IRS doesn't really want to deal with a breakout into 21 separate items (the number of foreign countries that withold taxes) for the chance to maybe reduce my credit by a few bucks, if that.

--fleg
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