2011 Foreign Tax Credit Details
ING Funds that invest in foreign securities are required to pay taxes on foreign income they receive. Shareholder's portion of foreign taxes paid are reported on the
1099-DIV, Box 6, and can either be taken as an itemized deduction or a foreign tax credit. A foreign tax credit reduces your actual U.S. income tax bill on a dollar for dollar basis. An itemized deduction reduces your income subject to tax.
The information on this page will help if you are utilizing a foreign tax credit and need to complete the IRS Form 1116 (for individuals, fiduciaries, and non-resident aliens) or
IRS Form 1118 (for corporations).
- To calculate your foreign income by country, multiply the amount shown in Box 1 (ordinary dividends) of your 1099-DIV by each country's Income Factor shown in the tables below.
- To allocate your foreign tax paid by country, multiply the amount shown in Box 6 (foreign tax paid) of 1099-DIV by the Tax Factor shown in the table tables below.
*Those U.S. individuals with no more than $300 of creditable foreign taxes ($600 in the case of a joint return) and whose only category of foreign source income is passive (such as through mutual funds) may elect to report your credit directly on Form 1040 line 47.
**Any fund that held less than 50% in foreign securities, will not pass through the foreign tax credit and will not be shown below.
Funds with available foreign tax credits
- ING Asia Pacific Real Estate Fund
- ING Emerging Countries Fund
- ING Emerging Markets Equity Fund
- ING Emerging Markets High Dividend Equity Fund
- ING Global Equity Dividend and Premium Opportunity Fund
- ING Global Equity Dividend Fund
- ING Global Opportunities Fund
- ING Global Real Estate Fund
- ING Global Value Choice Fund
- ING Greater China Fund
- ING Index Plus International Equity Fund
- ING ING Infrastructure Industrials and Materials Fund
- ING International Capital Appreciation Fund
- ING International High Dividend Equity Income Fund
- ING International Real Estate Fund
- ING International Capital Appreciation Fund
- ING International Core Fund
- ING International Growth Fund
- ING International Real Estate Fund
- ING International SmallCap Multi-Manager Fund
- ING International Value Choice Fund
- ING International Value Fund
- ING Russia Fund
Disclosure
Shareholders are advised to consult their own tax advisers with respect to the tax consequences of their investment in the Fund.