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#1
08-31-2003, 10:14 PM
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 Re: Withholding on Foreign Dividends in IRA Account sendnomail[at]please.com says... - quote - > The dividends on Canadian stocks are withheld for Canada at
Yes, you are correct. You pay the taxes to the foreign> a 15% rate. The withholding is 10% for UK stock dividends. > These amounts can then be claimed as a US tax credit for > stocks held in a taxable account. > I assume that if I buy those stock in an IRA, the tax > withholding would still happen, but there is then no US tax > credit. Are my assumptions correct? governments and get no benefit on your US tax return. Gary -- You can probably X figure out X which letters to X delete to derive my email address X. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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08-31-2003, 09:55 PM
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| Re: Withholding on Foreign Dividends in IRA Account D.F. <sendnomail[at]please.com> wrote: - quote - > The dividends on Canadian stocks are withheld for Canada at
Correct.> a 15% rate. The withholding is 10% for UK stock dividends. > These amounts can then be claimed as a US tax credit for > stocks held in a taxable account. > I assume that if I buy those stock in an IRA, the tax > withholding would still happen, but there is then no US tax > credit. Are my assumptions correct? __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
08-30-2003, 06:19 AM
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| Withholding on Foreign Dividends in IRA Account The dividends on Canadian stocks are withheld for Canada at a 15% rate. The withholding is 10% for UK stock dividends. These amounts can then be claimed as a US tax credit for stocks held in a taxable account. I assume that if I buy those stock in an IRA, the tax withholding would still happen, but there is then no US tax credit. Are my assumptions correct? Thanks. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| account, dividends, foreign, ira, withholding |
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