Schedule K1 tax form?

failed_trad3r · Mar 31, 2015

I just got one in the mail via IB and dont know what it's for, but apparently its related to some SVXY trade I did back in 2014.

im not an US citizen though, so I didnt think id have to pay the US any taxes I thought there was a tax treaty, from experience I know the W8ben form takes care of dividend taxes. I don't know why the USA send tax forms to non-americans(lol) seems like a waste of money to me(it was priority mail lol).

What to do? Anybody knows what it is and whether I should do anything with it?

gkishot · Apr 1, 2015

failed_trad3r said:
I just got one in the mail via IB and dont know what it's for, but apparently its related to some SVXY trade I did back in 2014.

im not an US citizen though, so I didnt think id have to pay the US any taxes I thought there was a tax treaty, from experience I know the W8ben form takes care of dividend taxes. I don't know why the USA send tax forms to non-americans(lol) seems like a waste of money to me(it was priority mail lol).

What to do? Anybody knows what it is and whether I should do anything with it?

Do you do reporting to the IRS? If not then you don't need to to anything. ;-)

failed_trad3r · Apr 1, 2015

gkishot said:
Do you do reporting to the IRS? If not then you don't need to to anything. ;-)

Nope, im not american lol, now that I took a closer look at the letter looks like it was Proshares who sent the documents. still beats me why they think I need these documents, its just extra costs to them for no reason, maybe they think filtering americans from non americans is too much hassle ans they just send to everybody who bought SVXY once.

gkishot · Apr 1, 2015

failed_trad3r said:
Nope, im not american lol, now that I took a closer look at the letter looks like it was Proshares who sent the documents. still beats me why they think I need these documents, its just extra costs to them for no reason, maybe they think filtering americans from non americans is too much hassle ans they just send to everybody who bought SVXY once.

They sent it to you because they reported this to the IRS on their side.

failed_trad3r · Apr 1, 2015

gkishot said:
They sent it to you because they reported this to the IRS on their side.

But it makes no sense! foreigners like me dont pay the IRS anything! it just seems like mindless bureaucracy, a waste of paper and money.