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

To: E_K_S who wrote (30869)	5/7/2008 2:03:17 PM
From: Paul Senior	Respond to of 78655

I bought WTR in my IRA also and for those reasons as well. I hold AAV in my taxable account. Have several other Canadians in my ira though -- and as you say, no offset for the 15% tax. So far that's been okay with me as 85% of the high div. is high enough and satisfactory enough for me. I still am not understanding how the 15% Canadian tax and other country taxes actually get offset on USA taxes. Once again, yes easy (always) as a deduction and easy as a credit (a credit being better than a deduction) IF amount of Canadian/other country taxes is less than $600 (married, joint filing). If more than $600, then Form 1116 must be used. I find it impossible to understand and fill out. Therefore, when I do complete my USA tax forms - using Turbotax - I've only used the foreign taxes as a deduction. Not anywhere near as good as getting the credit. Your point might be, some tax saving (a deduction) is better than nothing (in the ira). My point would be that the tax saving isn't enough for me to try moving Canroys into a taxable account which is already near full. Obviously, we're all in different situations and with different outlooks. I'm just giving my reasons for where I am/what I'm doing. No right or wrong here (I hope.) irs.gov Oops. Sorry for the little rant. Taxes forms. Grrr