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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (25676)	1/8/2007 4:22:00 PM
From: Paul Senior	Respond to of 78666

Yes afaik. The trusts' distributions going into a US tax-exempt account are and would be so taxed by Canada. These Canadian taxes are fairly easy to claim as a credit when the trusts are in taxable accounts --- as long as the amount of such taxes is below $600/yr (joint filing). If the taxes in taxable accounts are higher than $600 (I believe), then the IRS forms that must (for full claiming?) be completed are MUCH more complex/difficult. Canadian taxes (15%) paid from trusts that are in a USA deferred tax account (e.g. IRA) are gone forever most people say. OTOH, I've also read a couple of posts where the person says forms can be obtained from the Canadian gov't to return some of these taxes. I have Canadian trusts and other foreign tax-withholding stocks in tax deferred (IRA), tax exempt (Roth) and taxable accounts. In my tax-deferred and exempt accounts, I have assumed there's no recourse for me for regarding the Canadian 15% withholding. This all is just my opinion: I'm no expert on taxes/withholding/trusts/Canada/etc. and I could easily be very wrong.