Search found 3 matches
- Mon May 31, 2021 9:11 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Why is my Canadian brokerage firm listing my US REIT distributions as qualified dividends?
- Replies: 1
- Views: 1113
Re: Why is my Canadian brokerage firm listing my US REIT distributions as qualified dividends?
I spoke with a cross-border CPA on this issue and it seems that it is rather common for foreign brokerage firms to goof up IRS tax forms. The easiest way to fix it is to file a paper return and correct the 1099-DIV values by attaching a statement, showing the source of the information and the proper...
- Thu May 20, 2021 8:38 am
- Forum: Canada / United States Tax & Accounting
- Topic: Dual Citizen, Canadian brokerage issue 2 sets of tax slips..
- Replies: 1
- Views: 1728
Re: Dual Citizen, Canadian brokerage issue 2 sets of tax slips..
I called around about this same issue and apparently Qtrade Investor doesn't have any withholdings when they have a W-9 on file for US citizens. I was also told that there no with holdings for their TFSA and that they issue 1099's for the TFSA. I have not verified this, but this is what they told me...
- Thu May 20, 2021 8:08 am
- Forum: Canada / United States Tax & Accounting
- Topic: Why is my Canadian brokerage firm listing my US REIT distributions as qualified dividends?
- Replies: 1
- Views: 1113
Why is my Canadian brokerage firm listing my US REIT distributions as qualified dividends?
I am a dual US/Canada citizen with full year residency in Canada. Year 2020 is the first year in which I have invested in US REITs in my Canadian discount brokerage account. The brokerage firm has my W-9 on file and sends 1099 forms in my name only. There are no with holdings. When I look into the a...