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Colossus Minerals Inc Message Board

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  • whitesands_8 whitesands_8 Aug 1, 2012 3:24 PM Flag

    PFIC status-US investors beware

    YIKES! I was really liking this one until I saw that...That is outrageously ridiculous! So, if Colossus earns money, you have to calculate the earnings on pro rata/per share basis and report it on your income tax...Almost as if you're getting income even if there are no cash distributions such as dividends...So you pay taxes on earnings of Colossus and if you sell the stock you have pay capital gains tax on that as well...

    Forget that!


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