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Old 22.05.2021, 10:04
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Interactive Brokers - Schedule K-1 Form 1065

Hello guys, perhaps someone could help me here:

I am a Spanish citizen living in Switzerland for 6 years. I have an Interactive Brokers account since 2019 where I do some trading for fun. So far so good... When you get the dividends you get withholding tax and since for opening an account you fill a w-8ben form you don't need to declare anything in the USA, all my taxes should be declared in Switzerland, am I right?

Last year I did a couple of transactions with the ETF's USO and UVXY and I just got a Schedule K-1 Form 1065, and I have no clue if I have to file something to the USA? From this funds I got nothing it was a 2 day trade and on top of that I lost $262

Does anybody know if I have to do something with this???? Can anyone give me a hint, thanks a lot!!!
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Old 25.05.2021, 11:02
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Re: Interactive Brokers - Schedule K-1 Form 1065

Any dividends received on US assets will have tax withheld at 15%

You then fill a DA-1 form, usually during tax return, to get back the 15%.
Dividends are taxed to Switzerland, just added to your income.
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