Withholding Tax
[ Q2 03 - Q4 05 Archive ]
[ Current Message Board ]
[ Archives ]
[ Search ]
Posted by Daniel on August 11, 2005 at 17:44:44:
As a Canadian resident, my broker is required to withhold 15% tax from dividend payments for my US stocks, per IRS requirements. If my stock pays $60 in dividends, I only receive $51 in my brokerage account, so I need to make some sort of adjustment to avoid my cash account being out of kilter. What is the best way to handle this in FM when using a cash account? Should I set up a second cash account to track the tax being withheld? Treat the tax as an account fee? Manually adjust my original cash account some other way?
Replies:
|