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Re: Recording foreign tax on a dividend

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Posted by Mark on May 24, 2004 at 12:43:11:

In Reply to: Recording foreign tax on a dividend posted by Jane on May 24, 2004 at 11:45:11:

: I own Royal-Dutch Petro ADRs. I just notice my brokerage withheld 15% from the latest dividend to pay foreign taxes, leaving me with 85%. Whats the best way to record this situation into Fund Manager? I don't revest my dividends, so dividends goes into my cash account. If I only record 85% of the dividend (the actual cash I received) then my cash account is correct, but my return on my Royal-Dutch stock is messed up as I should some how account for the 15% they took out.

Hi Jane,

How about recording the full distribution, and then also an "account fee"
transaction for the 15%. This will model what actually happened.

Thanks,
Mark
--
Mark Beiley

Fund Manager, portfolio management software for Windows 95/98/ME/NT/00/XP

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