I have a single money market fund that is held in a number of different accounts. Do I need to fill out a PFIC for each 3520 and 90-22.1 that I hold it in?
Also, is anyone doing a schedule for their PFIC to attach at filing?
How many PFICs needed for 1 fund held in multiple accts?
Moderator: Mark T Serbinski CA CPA
Like you said in your reply to another post, I am not a CA or CPA and do not consider myself a tax expert. In my non-professional opinion, it would be clearer to at least file a separate PFIC form for your holdings inside the trust and your holdings outside the trust. Otherwise, it could be hard to match the income reported on the trust filings (3520/3520A) to those in the 1040. Maybe one of the professionals on this board can either confirm or correct this opinion.