Reporting ADRs on Form 1116

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jenfin
Posts: 52
Joined: Sat Mar 12, 2011 5:18 pm
Location: Canada

Reporting ADRs on Form 1116

Post by jenfin »

Form 1116 requires a separate column for each foreign country which is a source of income. Do ADRs purchased on the NYSE need a separate column for each source country or are they considered US source investments. I own none now but am interested in buying more. Also I once owned NOKIA and I noticed I always had 2 withholding amounts and wondered if one was to the US and one to Finland. Regards
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nelsona
Posts: 18379
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Cap Gains form these are not considered US-sourced -- they are Cdn sourced, so are eligible for 1116. Only the dividends are US-sourced (so are not eligible for 1116). If there is finnish tax, then that would go ona separate column.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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