IB - PAYMENT IN LIEU OF DIVIDEND (Ordinary Dividend)

Income tax policy, rules, problems, strategy and software. Property and consumption taxes too.
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3junior
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IB - PAYMENT IN LIEU OF DIVIDEND (Ordinary Dividend)

Post by 3junior »

Hi,

One of my stocks listed on TSX paid DIV, but a portion of my DIV says PAYMENT IN LIEU OF DIVIDEND (Ordinary Dividend). Can i still claim this with DIV credit? Has anyone gotten a T5 after this has hapend? What line item did it go under?

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DenisD
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Re: IB - PAYMENT IN LIEU OF DIVIDEND (Ordinary Dividend)

Post by DenisD »

IIRC, IB reports payment in lieu as dividends for Canadian dividend paying stocks and foreign income/foreign tax paid for US stocks on the tax slip. You should be able to reconcile the numbers on the yearly Dividend Report with those on the tax slip. I don't look at IB tax stuff until April because, for me, they usually revise the numbers once or twice.
3junior
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Re: IB - PAYMENT IN LIEU OF DIVIDEND (Ordinary Dividend)

Post by 3junior »

DenisD wrote: 31 Jan 2018 00:56 IIRC, IB reports payment in lieu as dividends for Canadian dividend paying stocks and foreign income/foreign tax paid for US stocks on the tax slip. You should be able to reconcile the numbers on the yearly Dividend Report with those on the tax slip. I don't look at IB tax stuff until April because, for me, they usually revise the numbers once or twice.
To Confirm you have seen payment in lieu of dividend on statment/daily report for Canadian dividend and on year end T5 see this as normal Canadian tax eligible dividend?


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DenisD
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Re: IB - PAYMENT IN LIEU OF DIVIDEND (Ordinary Dividend)

Post by DenisD »

Yes
3junior
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Re: IB - PAYMENT IN LIEU OF DIVIDEND (Ordinary Dividend)

Post by 3junior »

DenisD wrote: 31 Jan 2018 12:53Yes
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