I have always used an annual activity statement for that; isn't it simpler?
Tax statement from IB
- Thread starter Baptiste Wicht
- Start date
You mean the one found under "Tax" forms? The problem that I have with that is that it is usually available on the platform quite late to fill the tax returns in time. Moreover, there is the question on how to report the US ETF funds in the Swiss tax return, etc. Thus in line with the suggestion from DanielF, an article with some advice on Tax reporting (when using IB) and Tax deductions would be extremely useful I think.
well in Swissquote the annual tax form is available by mid Feb and can be downloaded in the Canton Tax app. It is great to avoid mistakes and saves time as well. you pay 100 frs for it but it is worth it if you have many positions like me .
Their client service is efficient .
By the way there is a double tax agreement between USA and Switzerland, so you pay 15% tax on USD coupons instead of 30%. To obtain that you need to fill in W8BEN form with your broker. However it is only effective for current year (2024) and cant be valid before that
Their client service is efficient .
By the way there is a double tax agreement between USA and Switzerland, so you pay 15% tax on USD coupons instead of 30%. To obtain that you need to fill in W8BEN form with your broker. However it is only effective for current year (2024) and cant be valid before that
No, an actual activity statement for the entire year. I don't use their tax forms because they are made for the US and as you said, they are too late.
I also enter everything, I think we don't have a choice in the matter.
The activity statement is the proof that the tax office provides. But why would you not trust it? It's just the list of all the activities you have done on your account.
The activity statement is the proof that the tax office provides. But why would you not trust it? It's just the list of all the activities you have done on your account.
i just enter purchases and sales quote amounts, and the dividends acc. to ICT
I do trust those, but i.e. dividend amounts, values, MTM, those not, as they are in dollars and values are market values, not official tax values
That makes sense; I get it now. You cannot enter these values directly into the tax software indeed.
Whoops, have I drastically misunderstood what to fill in with regards to my IB account?
I just screenshot the total portfolio value for my accountant, and it goes towards overall wealth.
Should I be giving more detail and such?
Context: it's mostly just in $VT, with dividends reinvested.
Worried now
I just screenshot the total portfolio value for my accountant, and it goes towards overall wealth.
Should I be giving more detail and such?
Context: it's mostly just in $VT, with dividends reinvested.
Worried now
@WillSnow You should declare all the dividends because they are taxed as income in Switzerland. Now, if you have a tax accountant, he should be able to fill your tax declaration properly. But he likely needs the full activity statement to know when and what you bought so that dividends can be properly calculated.
Aaaah, okay that makes sense.
But then is the dividend amount taxed twice then? Once as income, and then again due to the amount it adds on to the overall wealth amount (although this would be relatively infinitesimal)
Thanks, I guess I will do things properly and let them for this current return!
But then is the dividend amount taxed twice then? Once as income, and then again due to the amount it adds on to the overall wealth amount (although this would be relatively infinitesimal)
Thanks, I guess I will do things properly and let them for this current return!
Yes, like any income, we get "double taxation" in Switzerland. It's the same as your salary. It's taxed once as income and then repeatedly as wealth.
Then, I would expect that your dividends are not taxed as income.
with B you CAN still compile the full tax declaration as far as i know
for sure you can compile the Wertschrift Verzeichnis with all your values, just ask for the template at the gemeinde, you have to do it by hand
You will pay income tax on dividends and wealth tax on the value of the ETF. But you will normally not pay any taxes when selling if you have realized a capital gain.
The Truth About Capital Gains And Taxes In Switzerland - The Poor Swiss
Capital gains are appreciation in the value of your shares in the stock market. Find out how they are taxed in Switzerland and avoid paying capital gains tax!
thepoorswiss.com