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To: Think4Yourself who wrote (193905)	3/30/2009 11:41:43 AM
From: Tommaso	Respond to of 306849

>>>Almost nobody studies tax law, especially posters on SI.<<< Some areas of tax law are impossible to understand because of conflicting laws and regulations. I mean in particular the handling of tax-deferred and return of capital distributions from Canadian companies, and their treatment under both Canadian and U. S. law for U. S. citizens. This includes foreign tax witholding, change of basis, character of dividends, and so on. Another very thorny area is the treatment of partnership distributions to conventional IRAs in the U. S., as reported on K-1 forms. As a result of legislation meant to cover such distributions to tax-exempt charities, some (overingenious, I think) accountants insist that such law extends to IRAs. If so, there is very wide taxpayer disobedience. Almost everyone using TurboTax has decided to ignore K-!s sent to IRA accounts.