Follow Up on Pengrowth "Dividends"
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Follow Up on Pengrowth "Dividends" Thanks again guys for a prompt and spirited response to my post on Pengrowth “dividends.” Because of all of your input I went to the Pengrowth web page and read all the documents for U.S. taxpayers. With not much hope of success, I called Scottrade and asked if they would retract the 1099 Miscellaneous Income classification for the Pengrowth distribution – lo and behold, they said they had done that and that a revised 1099 was now available on line. Now they list the distribution from Pengrowth in the Supplemental Information, Non-Reportable Activity as a MLP Distribution (Master Limited Partnership Distribution). They continue to list the 15% foreign tax as a paid item in the 1099-Div section. Apparently, since it is now non-reportable activity, the IRS will not see it as income and I will not need to enter it in the bivio accounting. Is that correct? If that is correct, where do I enter the foreign tax paid in the bivio accounting? That will still be reported to the IRS on the revised 1099. I think Ira may have something – sell the #*@#* Pengrowth. Again, thanks for you assistance and any help on the last two questions will be appreciated. Alan |
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