anonymous
Tue Jul 13 10:06:00 CDT 2004
Thanks Guy's - I appreciate the quick response! - Ron
>-----Original Message-----
>In microsoft.public.money, Dick Watson wrote:
>
>>Seems like you'd need to add a transaction in the cash
account expensing the
>>withheld amount.
>>
>>"Ron" <anonymous@discussions.microsoft.com> wrote in
message
>>news:2b33c01c468ce$f841ccb0$a601280a@phx.gbl...
>>> I own some Nokia stock and when it pays a dividend
part
>>> of it is withheld by my broker as "Foreign Tax
Withheld"
>>> The downloaded transaction shows up in the Investments
>>> transactions as a transfer to the cash account as a
>>> payment or credit. My broker statement shows it as a
>>> debit to cash with is correct as I do not get the
money.
>>>
>>> When I try to balance I am off by the amount if the
>>> transaction. Can anyone help me solve this?
>>
>
>Just confirming, you get TWO transactions downloaded
from your
>broker for Nokia at each dividend time. One does
contribute cash
>that you see in the broker account and is about 85% of
the total.
>About 15% of the total come down as a separate dividend
and shows as
>cash in the Money cash account, but not on the broker's
website.
>That is what I think you are saying, and what I think
Dick
>understood.
>
>A more complex alternative to Dick's method is to create
a cash
>account to hold withheld dividend money, and change the
transfer
>account for the appropriate dividends to that account.
That would
>allow you to track the dividend withholding. Then
annually zero that
>account with a transaction to represent the tax credit
it becomes.
>Dick's method is better for most people.
>
>.
>