Your year-end statement should show the total foreign tax paid for the year. You get to claim that amount as a credit on your US tax return.
See Form 1040 line 47.
If the total exceeds a threshold, you also file Form 1116
They could be but unlikely for a few measley dollars (unless they are ripping off hundreds of clients!)
This is so easy: write to your broker and say " I am sure this is correct but would you mind explaining to me how you arrive at this amount for my dividend"
Depends what it was on the date you actually had the dividend applied.
I was expecting a dividend of $97.50 (Canadian), which would of been converted in to American making it $106 roughly...but not only did I not recieve $106, I didn't even recieve the full Canadian$ amount.
I own 325 shares and the company pays 0.30/share quarterly. That's $97.50...I only got $89.55.
There's been other times where my capital gains were $800 (in American currency) and when I went to sell, I only got $765 Canadian currency...when it should of been $880 (roughly), converted in to American currency.
If I make profits in American currency, and Canadian currency is 0.90 to $1 USD (at the time when the transaction took place)...would it not be more in Canadian currency, when I sell and it is converted back?
Who do I contact to ask questions?
