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Nokia Corporation Message Board

  • gia2kia gia2kia May 28, 2010 11:14 PM Flag

    NOK is a sick investment!

    Here is why: I bought it in my IRA and got the dividend today. Guess what, they took a big chunk of it as foreign tax and apart from that, it doesn't look like I can claim a credit (please see below).

    >>>> http://www.financialsense.com/fsu/editorials/galakoutis/2009/0129.html <<<<

    Individuals with foreign dividend paying stocks in their IRA’s or other qualified tax-deferred accounts are not eligible to claim a foreign tax credit because the income is received by a tax-exempt trust and not currently subject to income tax.

    >>>

    Apart from that, the stock's value is dropping like crazy...

    At least, I hope, for longs sake, that the bleeding has stopped as it's forming a base in the 10s for the next leg up or down? Who knows!

    I see that lots of investors on this forum are very happy to get a dividend and NOT thinking that the principal is disappearing fast. What good is it to get a paltry dividend when the stock drops precipitously?

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NOK
5.86-0.02(-0.34%)Feb 12 4:02 PMEST