Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Industry Discussions
- :
- Tax Talk
- :
- Re: Treatment of Sale of Foreign REIT
Treatment of Sale of Foreign REIT
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
woodmanseem
Level 1
07-08-2020
05:32 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Hello - I have a client that invested in a Foreign REIT (Thailand) using a foreign brokerage account I believe the correct treatment to be the following:
Dividend Distributions - Ordinary nonqual dividends, the statement is clear that these payments are not considered return of capital. Not eligible for 199A due to being a foreign REIT investing outside the US.
Sale of the REIT - capital gains reported on Schedule D.
am i missing anything?
This discussion has been locked.
New comments cannot be posted on this discussion anymore. Start a
new discussion
1 Comment 1
sjrcpa
Level 15
07-08-2020
08:08 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Sounds correct to me. There may be foreign tax and foreign currency exchange/fluctuation issues, too.
The more I know, the more I don't know.
