Comments on: Sogoinvest did not classify qualified dividends http://www.indextown.com/archives/2007/04/27/sogoinvest-did-not-classify-qualified-dividends/ Personal finance and investing in mutual funds and ETFs Tue, 23 Feb 2010 19:12:16 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Umberto H http://www.indextown.com/archives/2007/04/27/sogoinvest-did-not-classify-qualified-dividends/comment-page-1/#comment-23341 Umberto H Fri, 20 Feb 2009 23:22:01 +0000 http://www.indextown.com/archives/2007/04/27/sogoinvest-did-not-classify-qualified-dividends/#comment-23341 Super-Duper site! I am loving it!! Will come back again - taking your feeds also, Thanks. Super-Duper site! I am loving it!! Will come back again – taking your feeds also, Thanks.

]]> By: indexfundfan @ indextown » Blog Archive » My Last Words on Sogoinvest http://www.indextown.com/archives/2007/04/27/sogoinvest-did-not-classify-qualified-dividends/comment-page-1/#comment-23016 indexfundfan @ indextown » Blog Archive » My Last Words on Sogoinvest Tue, 15 Apr 2008 13:34:45 +0000 http://www.indextown.com/archives/2007/04/27/sogoinvest-did-not-classify-qualified-dividends/#comment-23016 [...] After one year, Sogoinvest still did not get the qualified dividends right. In April 2007, I complained to them that some of my dividends were incorrectly classified. I never received a satisfactory reply, other [...] [...] After one year, Sogoinvest still did not get the qualified dividends right. In April 2007, I complained to them that some of my dividends were incorrectly classified. I never received a satisfactory reply, other [...]

]]> By: indexfundfan http://www.indextown.com/archives/2007/04/27/sogoinvest-did-not-classify-qualified-dividends/comment-page-1/#comment-15280 indexfundfan Fri, 04 May 2007 22:40:19 +0000 http://www.indextown.com/archives/2007/04/27/sogoinvest-did-not-classify-qualified-dividends/#comment-15280 I thought about declaring them as qualified but I don't want to invite an audit which will probably cost me more in time and headaches. In the end, I just "eat" the loss. I don't know if my shares were loaned out but I am more inclined to believe that Sogoinvest was sloppy in handling the 1099DIV. Reason? Because the foreign taxes paid from VWO was declared in the 1099 form to be zero. This is definitely incorrect. I thought about declaring them as qualified but I don’t want to invite an audit which will probably cost me more in time and headaches. In the end, I just “eat” the loss.

I don’t know if my shares were loaned out but I am more inclined to believe that Sogoinvest was sloppy in handling the 1099DIV. Reason? Because the foreign taxes paid from VWO was declared in the 1099 form to be zero. This is definitely incorrect.

]]> By: T. Newman http://www.indextown.com/archives/2007/04/27/sogoinvest-did-not-classify-qualified-dividends/comment-page-1/#comment-15279 T. Newman Fri, 04 May 2007 21:36:09 +0000 http://www.indextown.com/archives/2007/04/27/sogoinvest-did-not-classify-qualified-dividends/#comment-15279 In this situation, can't you just declare them on your tax forms as qualified dividends? If you meet the holding period requirements, wouldn't you be OK? If you're audited, just show the documentation? I think that the only way they're not qualified is if the broker borrowed your shares, for example to let someone else sell them short, but I think the broker is required to inform you of that in some way, for example by listing them not as dividends on your 1099 but as payments-in-lieu. In this situation, can’t you just declare them on your tax forms as qualified dividends? If you meet the holding period requirements, wouldn’t you be OK? If you’re audited, just show the documentation? I think that the only way they’re not qualified is if the broker borrowed your shares, for example to let someone else sell them short, but I think the broker is required to inform you of that in some way, for example by listing them not as dividends on your 1099 but as payments-in-lieu.

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