There’s a tax statement section with dividend report.
Thanks. But I see no end of year statement that I can use (FX Income Worksheet is not useful) and the dividend report is only HTML.
This is what I see:
Just print html to pdf, what’s the issue?
What I do. If you have accumulating funds though (not really a thing in the US), keep in mind that their income is taxable but not distributed - so won‘t show up as dividends in the report.
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The yearly “Activity Statement” or “Umsatzübersicht” should contain every information you need for the tax declaration.
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This year for the first time I owned UK accumulating funds so asked IBKR about this 3 weeks ago, but did not receive a reply (typical IBKR)
In my former UK broker I received a report showing accumulated dividends from funds not paid. As I am with IBKR UK I assume IBKR may provide it after 5 April (end of UK tax year). It should be a standard process for all their UK clients
Unless he has very uncommon ETFs, the Swiss tax software handles that automatically.
To clarify, I’m not listing the individual stock positions in the tax software. I’m only listing the sums from the IBKR statement - so there’s no entry that the tax software could handle automagically.
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I can do the very same in my canton (not SZ) - in fact I do, for every other securities accounts I have.
Since I’m holding many individual stocks in my IBKR account though, I enter literally just one line in my tax declaration: Type: “Securities account”, enter my broker’s name and IBKR account number, tax value and income received. I’ll enclose the IBKR report PDF (no “handmade” report at all, it’s just report I pre-configured once), and that’s that.
Because I have just one item, one line on my tax declaration for my entire IBKR account, rather than copying the two or three dozen individual stock positions I’m holding and transactions I’ve made, the software obviously doesn’t pull any data from ICtax for that account.
To visualise:
One line for the whole account - that’s all I’ve entered into the tax software.
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Just realized a strange behaviour (at least it seems to me!):
The other day I wanted to exchange all of my EUR to CHF. Somethow it didn’t work and EUR 0.28 remained on the ‘EUR position’.
Today I transfered CHF from my bank account to IKBR. And strange enough, the EUR 0.28 are gone, i.e. the the ‘EUR position’ doesn’t show up in my Cash Report anymore. But I realized that the EUR 0.28 have been exchanged to CHF at the same time as my CHF transfer arrived on IKBR. I did not make any order or something like this!! (Well, OK, I’m fine with that since I didn’t want to have any EUR anymore, but still strange!)
Thank you for this helpful information! I was actually quite suprised too! But as you say, for me this is also a welcome policy, I don’t mind getting rid of these small amounts.
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What was the conversion rate applied to this currency change?
The regular one that you also get when you make the conversation by yourself, as far as I can see.
And you don’t have any fees on the automatic currency conversion. I really like that feature.
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Indeed, I mean the auto conversion. Edited to make it clear.
I have a weird issue with my IBKR account. I recently created two more accounts for my children which are linked to my main account. So I can easily manage my children’s investments. However I’m having an issue when transferring funds between accounts. My main account has cash available but when I go under transfer funds → transfer funds between accounts and select USD it says I have 0USD available to transfer.
Anyone know what’s up? Or is experiencing the same thing?
Are you sure you have USD cash? Maybe you select UK-managed account, number ends with F?
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I’m sure I have USD cash, I can see it clearly under my cash report. But my base currency is CHF could this be the issue?
EDIT: I transferred the money yesterday and the market is not open yet, that might be my issue. I will check again this afternoon.
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Forex markets are open 5x24, so that shouldn’t be the issue. Maybe it’s related to your base currency being CHF. You can also open a ticket or chat with IBKR support. They are usually really fast.
No.
Did you convert CHF to USD? Then probably it hadn’t settled yet. Check the Activity report.