Interactive Brokers fee on dividends

Investing / Brokers
1

I have a small portoflio at Interactive Brokers with some VT and CHSPI. I was downloading the tax document from Interactive Brokers interface and it give me this “FX Income worksheet for 2023”. It list the dividends and Forex under a columns named “source of acquisition”. Then there is a column “proceeds” with an amount and a column cost with almost the same amount, either slighty more or slightly less. Then there is the “Income or (loss)” and each line I have either a few cents income or loss. The total on the year is a loss of like 40 cents.

What does it means? The everything I earn form dividend is eaten as cost? What are these cost? Fee from IB? from the ETF? From US taxes? From Swiss taxes?
Is it the same for all or it’s because I have too few shares that a exactly all in fee/tax?
Should I enter the total of the column cost as effective cost for this account in my tax declaration?

Thanks for any help understanding this.

2

The dividends execution and payment is a process that lasts a few days. In the reports you are referring to IB shows already the dividends you are owned around the ex-date and remove it when it is paid to your cash balance (at pay-date). However, don’t forget that IB always report in your base currency (e.g. CHF). The difference you see is simply the FX rate effect on your foreign currency dividends between ex-date and pay-date.

3

Thanks for the explanation, still I don’t see what is taken as taxes from the dividends. Anyway last year I think my canton refused to reclam back the US taxes because the total of the taxes was below 100frs, it’s still the same this year as I didn’t grow this portfolio much.
I will re-read MP article on taxes form with IB, in case could recover some more from my taxes.

4

Generate an “Activity” report for last year under “Performance & Reports” and then “Statements”.

In the section “Change in Dividend Accruals” you will see at the bottom line the few cents of FX rate effect on your dividends accruals (assuming you had no open dividend transactions at end of year, which most probably is the case). Note that the Dividends Accruals sub-sections grouped by currency all sum up to zero, which is what we expect since all dividends have been booked and then paid.

To see how much withholding taxes (WHT) you have paid, expand the section “Withholding Tax”. If the USD subsection sums up to less than (converted) 100 CHF, the tax office won’t process your DA-1. The WHT in the CHF subsection you will get back immediately on your tax declaration.

5

Thanks, I got it now. Indeed I have less than 10CHF in tax withholding… I have a second IB account managed by Investart but with also less than 100CHF in tax withholding. I was wondering if I should close the Investart and move everything to my direct IB account but as I have one of this early adopter free Investart account, I cannot resolve to close it, even if I would not save much at the end of the year for sure, if not nothing at all by using Investart vs IB directly.