Re: monex tokutei
Posted: Wed Oct 09, 2024 4:30 am
Makes sense! Stick with what you feel comfortable with. As I was arguing above, there is a learning curve.
What was the issue you ran into?
Makes sense! Stick with what you feel comfortable with. As I was arguing above, there is a learning curve.
On Monex, mine shows 課税 for US ETFs. It doesn't give me a choice.
You are looking via the TradeStation app? I think you need to login to the Monex US stock trading account specifically (TradeStation is how I do it via smartphone) to see them, rather than the same interface through where you can buy toshins and Japan listed securities.
When you set up the account, Monex will already have your account set up for 特定(課税あり) or 特定(課税なし) or 一般 in your user profile.
It's definitely easier if you are with a Japanese brokerage. I have a python programme so I can get the yen cost basis for all the DRIP re-investments based on a csv file of the daily exchange rates I download from Mizuho's site. With a Japanese broker, you don't get DRIP re-investments to start with so no need to worry about having hundereds of fractional re-invested buys.ToushiTime wrote: ↑Tue Oct 08, 2024 9:29 amBut don't you also have to keep a record of, declare, and pay the capital gains yourself when you sell, if using a foreign brokerage? That's not an issue with the Japanese brokerage, I think.If you want to invest in US stocks and ETFs, you need to do kakutei shinkoku to take advantage of foreign tax credits. This is so regardless of whether you're at a Japanese broker or at a US online broker.
Another potential hurdle: the Japanese brokerages let you download the transaction and tax records in Japanese, including the annual trading report.
Does having these, rather than the documents from Firstrade, make things easier when filing?
I ask, as I've never attempted to claim back foreign tax. US stocks and US-listed ETFs make up no more than 10% of my portfolio but I ought to try to claim when I get around to it.
Just on the web..I have never used tradestationsutebayashi wrote: ↑Wed Oct 09, 2024 11:43 amYou are looking via the TradeStation app? I think you need to login to the Monex US stock trading account specifically (TradeStation is how I do it via smartphone) to see them, rather than the same interface through where you can buy toshins and Japan listed securities.
Heh, I have a little Python knowledge but I don’t really want to deal with that stuff myself anywaysChapInTokyo wrote: ↑Wed Oct 09, 2024 12:15 pm It's definitely easier if you are with a Japanese brokerage. I have a python programme so I can get the yen cost basis for all the DRIP re-investments based on a csv file of the daily exchange rates I download from Mizuho's site.
Ah, that would explain why I am only shown 課税 when trading US stocks on Monex.ChapInTokyo wrote: ↑Wed Oct 09, 2024 11:59 amWhen you set up the account, Monex will already have your account set up for 特定(課税あり) or 特定(課税なし) or 一般 in your user profile.
So the selection you make when you put in your order for US ETFs is whether it's for 課税(taxable) or 非課税(tax exempt). Or in other words, non-NISA or NISA.
Me neither, but I admire his dedication and resourcefulnesssutebayashi wrote: ↑Wed Oct 09, 2024 9:19 pmHeh, I have a little Python knowledge but I don’t really want to deal with that stuff myself anywaysChapInTokyo wrote: ↑Wed Oct 09, 2024 12:15 pm It's definitely easier if you are with a Japanese brokerage. I have a python programme so I can get the yen cost basis for all the DRIP re-investments based on a csv file of the daily exchange rates I download from Mizuho's site.