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Strategies & Market Trends : Dividend investing for retirement -- Ignore unavailable to you. Want to Upgrade?

To: Delfino R Zavala who wrote (5224)7/27/2010 7:19:42 PM
From: gregor  Read Replies (2) | Respond to of 34328
 
Since an IRA would not traditionally pay taxes, I can't find anything that says you can claim a credit for taxes paid by the IRA. Since the funds are paid to the IRA net of taxes, I don't see where you could later gross up the withdrawal for the foreign taxes paid.

For example, if your IRA earned $100 in dividends, and $25 was withheld for foreign taxes. The IRA would then only have $75 available to pay you, which would be your withdrawal. Since you're withdrawing the after-tax amount you couldn't claim the $25 credit.



To: Delfino R Zavala who wrote (5224)7/28/2010 7:24:13 AM
From: Bocor  Read Replies (1) | Respond to of 34328
 
yes, the foreign tax IS taken out prior to distribution, at least by Fidelity. On 400 shares, I received the following:

DIVIDEND RECEIVED
TOT TOTAL ADR EACH REP 1 ORD SHS EUR10
Amount: $555.34

06/22/2010 FOREIGN TAX PAID
TOT TOTAL ADR EACH REP 1 ORD SHS EUR10
Amount: -$138.83


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