I also agree that 1042-S is quite useless for us. Dividends are shown in USD, of course, but we have to declare CHF value. If you switch your base currency at IB to CHF and generate a dividend report for a year, all dividend will be recalculated to CHF according to respective daily FX rates.
Using which USDCHF rate?
Dividend report is now available on IB. But only as HTML or csv. You have to convert it if you need it as pdf.
You should add the âpayment in lieu of dividendsâ if you enable the SYEP .
Is âpayment in lieu of dividendsâ accepted in your tax declaration?
Do you declare them as dividends and can you get the retained taxes back?
I thought tax authorities didnât allow reclaims against these.
In my IBKR there are not all the dividends in the dividends section when enabled the SYEP. It is not to get taxes back, but it is to declare somehow the dividends.
Exactly: there are dividends and then there are âpayments in lieu of dividendsâ (which are NOT dividends).
You probably need to declare the payments as revenue, but the tax authorities will not let you reclaim withholding taxes on those payments.
See https://www.taxprofessionals.com/articles/substitute-payment-in-lieu-of-dividends for more details.
I see two different fields called âDividendsâ when I create custom template. One includes "payments in lieu of dividendsâ, another doesnât.
Good point @SwissDan and @Dr.PI !
The two sections have the same name âDividendsâ in the generated report
So remember to select the âCombined Dividendsâ and ignore the âDividendsâ, as shown in the picture
Included with other info, you can find it also in PDF
The first file is there (and itâs the one I usually use for taxes)
I have mostly the same. Just no Bond Interest as I donât have bonds and I include the Trades.
Without trades there is no way to know how many ETFs you had at each dividend payout?
Do you mean the number of shares?
I have also another question 
Since IB is withholding Taxes for CHSPI, does that mean that I need to request back also those with the DA-1?
No, thatâs Swiss withholding taxes (Verrechnungssteuer), for which youâll get a credit with the regular âWertschriftenverzeichnisâ. DA-1 is only for foreign withholding taxes. The domicile of the broker doesnât matter.
That makes sense, thanks.
Usually I add just the total amount for each broker, and for the tax office was ok so far.
So I guess there is no way to get back that 30%
Why wouldnât you be able to get back the Swiss withholding taxes (35%)?
You simply need at least two lines, one for WV (tax value and dividends of securities without foreign withholding taxes) and one for DA-1.
If you also hold securities that pay dividends without any withholding (e.g. ETFs with an Irish domicile), you need to specify two income values on the summary line for WV, one with and one without Swiss withholding taxes.
Good point. In the eTax for TI should be this one:
Valore Imponibile: taxable value
Soggetto ad imposta preventiva: withholding tax
Non soggetto ad imposta preventiva: no withholding tax
I knew that the withholding tax part should be related of taxes that are paid in CH?
Or is it exactly where I need to add it and then automatically I should get the 35% back?
Then for DA-1 I fill out this part
But then I need to add it manually anyway in the module present in the program
Yes, in the middle field enter the gross dividends that are subject to Swiss withholding taxes and in the bottom field enter the gross dividends not subject to Swiss withholding taxes (e.g. Irish ETF).
Youâll get a tax credit for 35% of the value entered in the middle field.
Exactly. How do you calculate number of shares at each dividend payout?
Total amount of dividend received (gross) by you
/ dividend per share (gross), as published by fund
= number of shares youâre holding at record date.
Am I missing something?
I thought it would be that easy, but I kept getting wrong numbers.
