Interactive Brokers, which reports needed for tax declaration?

Dear mustachians, I searched through the forum but couldn’t find which reports I need to fill out the taxes @ interactive brokers,

could anybody help me?
Thank you in advance

I’ve probably written about before on the forum - but can’t find it at the moment. What I’m not doing is trying to use documents for U.S. tax purposes for my Swiss tax return.

I am using a custom statement, generated via client portal (Menu -> Reports /Tax Docs -> Statements)

Statement Type Activity

Sections
Account Information
Bond Interest
Broker Interest
Dividends
Financial Instrument Information
Net Asset Value
Open Positions
Withholding Tax

Section Configurations
Profit and Loss None
Breakout Positions into Long and Short? No
Combine by Underlying (MTD/YTD only)? No
Display Canceled Trades? No
Group Buys and Sells per Symbol in Trades Section? No
Hide Details for Positions, Trades and Client Fees Sections? No
Replace Account ID with Account Alias? Yes

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thank you so much! that is really helpful

I’d like to revive this topic. Did you change anything about your approach?

For 2019 I just included the Activity statement in my tax declaration and no further questions were asked. So is there a need for a custom statement?

No reports are need whatsoever.

Except for your DA-1 you should attach something showing your dividends and withholding taxes that you’re claiming a refund for - custom report with just these sections will do

Never been asked for anything else by them

How do you mean no reports are needed? How do you declare wealth and income?

You just, you know, go ahead and declare. No proofs are needed to be attached regarding your wealth and dividends.

If numbers don’t make sense to them (for example, large unexpained delta from your last year’s tax declaration, or discrepancy vs the numbers they get on you via AEOI reports) they may ask you to explain yourself and send in the papers later. But nothing is needed to be sent upfront for the initial filing.

Just the DA-1 folks want some papers to double check your figures before paying you out, but not the tax commissars.

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Total withholding tax in 2020 was 41.81 CHF. So no need for DA-1 this year, right?

You are not eligible for DA-1 refund for such laughable amounts, don’t bother sending them the form and put everything into WV instead. It says so right on the DA-1 form in case you didn’t read it. Come back next year when you have at least 50 CHF to claim.

No DA-1, no proofs for your divs needed. They’ll take your word for it, oh and double tax of course (because no refund for US tax)

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How does the DA-1 refund work? Do you get a credit for the text tax declaration?

In Zurich you get cash refund to your bank account. Use search, it’s been discussed ad nauseam

No change (except… my base currency and report will be in CHF this time).
But haven’t heard back from the tax office, since I’ve been quite late with me declaration.

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I guess bond interest because you have bonds? I removed that from your custom report but kept the rest the same. Thank you btw. The annual activity report had too much details.

I did as @kilyn for 2019 in VD, simply declared what had to be declared and did not send any detail from IBKR. The tax office did not ask for any documents.

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I noticed that the base currency report will use the fx rate at the dividend date for each dividend. I wonder if this is the “correct” way to do it.

I might have had. No harm to include it, if it’s zero, isn’t it?

Most probably not.

I believe strictly speaking I should use the federal tax administration’s reference rate (available on ICTax). Since IBKR doesn’t provide that or take that rate into account, I’d have to calculate and “adjust” the IBKR report for EVERY. SINGLE. DIVIDEND. PAYMENT.

Yeah… not going to bother about that (unless they make me)! :sweat_smile:
And neither are the tax office people. I assume the difference between IBKR’s forex rates and their reference rates will be negligible anyways.

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For reference, I just recently got an approved amount of ca. 177 chf (in Basel, for 2019).
No sign of the “complete” report yet though…

Hello
I invest in ETFs and individual stocks. I started investing last year. I wish to continue investing only via ETFs and stop investing in individual stocks to facilitate my tax return.

I have currently invested in 7 individual US stocks (2’400 CHF invested) with a current gain of 100 CHF. Is it fiscally risky to sell all my individual shares today and not declare the dividends of these shares in my tax return?

Thank you for your help

Why would you willingly omit income? Why is it worth the risk? Just sell and report the (I imagine super small) dividend you received.

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I forgot to specify that I have had the shares for less than 6 months, I don’t want to be considered a professional investor. I read MP’s tax guide, is the individual equity tax return different from the ETF return? I like the investment in value. I’m just wondering about the tax return, whether it’s more complicated or not.

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