08-26-2008, 12:16 AM
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 Re: Canadian Royalty Trust 15% tax credit in an IRA David wrote: - quote - > If one is US resident and holds a Can Roy such as PWE in an IRA, can > you take the 15% foreign tax credit? The Canadian govt takes 15% of > your dividends before you get them. If you hold it in a taxable acct > you get that as a tax credit. Can you still get it if you hold it in > an IRA? > ========================================= MODERATOR'S COMMENT: > Sorry, no foreign tax credit. What happens in an IRA stays in the > IRA. The Moderator's answer is correct. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
08-25-2008, 10:36 PM
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| Canadian Royalty Trust 15% tax credit in an IRA If one is US resident and holds a Can Roy such as PWE in an IRA, can you take the 15% foreign tax credit? The Canadian govt takes 15% of your dividends before you get them. If you hold it in a taxable acct you get that as a tax credit. Can you still get it if you hold it in an IRA? ========================================= MODERATOR'S COMMENT: Sorry, no foreign tax credit. What happens in an IRA stays in the IRA. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| 15%, canadian, credit, ira, royalty, tax, trust |
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