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Treatment of Sale of Foreign REIT
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woodmanseem
Level 1
07-08-2020
05:32 PM
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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?
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1 Comment 1
sjrcpa
Level 15
07-08-2020
08:08 PM
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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.
