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Strategies & Market Trends : Value Investing
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To: Grommit who wrote (26237)4/17/2007 4:01:44 PM
From: Paul Senior  Read Replies (1) of 78958
 
Grommit, et. al. The USA tax implications of these Canadian trusts vary, and I didn't realize that. My error.

For example, PGH. USA owners of this one get to claim (must claim?) a cost depletion allowance and eventually when stock is sold, the cost basis must be adjusted for that. That's like having to file a partnership K-1. And too much work for me. In addition, I hold PGH in an IRA. If the income from PGH is considered by the IRS same as K-1 stuff, in an IRA there's a limit ($1000) how much K-1 income one can have before one falls into actually having to pay taxes. As you may likely know... the UBTI thing.

All this is something I don't want to be involved with. I've started to exit my small PGH position.
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