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CGCPA
CGCPA, CPA
Category: Tax
Satisfied Customers: 3820
Experience:  over 40 years experience in tax matters
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I recieved a Foreign Stock Dividend in my ROTH IRA a/c. They

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I recieved a Foreign Stock Dividend in my ROTH IRA a/c.
They witheld foreign taxes.
Do i have to pay for these taxes.
Or can I recoup on on 1099
If so where
Thank You

Welcome to Just Answer. I am here to help you resolve your tax and finance concerns. Please feel free to ask anytime you need extra help.

There is no tax advantage to you. The growth in your Roth account is simply less. There is nothing for you to do in this situation.

CGCPA and other Tax Specialists are ready to help you
Customer: replied 5 years ago.

So the amount paid in taxes are lost

 

Why do they withhold taxes in IRA accounts

 

The tax is withheld from the foreign source. They really do not care about this being in an IRA. It is money leaving their nation and they want a piece. Yes, it is lost to you.
CGCPA and other Tax Specialists are ready to help you