Why do you take such an interest in my finances lol...of course I'm aware of the withholding tax...it's literally on every statement. Me and you I believe had an entire conversation about it in another topic. My spreadsheet deducts it automatically and updates my budget sheet. Sit down with an accountant? Who does that anymore? Ever heard of Chatgpt?
The purpose of these "high yield ETFs" are to suck the money out of the sheep. Wall Street does not create esoteric products to make you money -- only themselves.
Qualified Dividends are taxed at lower rates than personal income (ordinary rates). MSTY does not provide Qualified Dividends which are taxed at long term capital gain rates in the U.S. This should be very obvious.
reminder, bitcoin price ---> mstr price ---> msty price (and dividend next month) If price of bitcoin holds up until market open, share price of mstr and msty will be up as well
So where are you located? Canada? I can also provide some basic Canadian tax guidance after working up there for years.
✅ Bottom Line: YieldMax dividends are not eligible for Canada’s dividend tax credit They are foreign income and/or fully taxable PILs depending on how your shares are held Best held in non-registered accounts where you can claim the foreign tax credit (FTC) on real dividends (not PILs) I am not a proponent of dividends...can't stand dividend stocks normally as they are a waste of capital when I could make more income doing it myself using premium. BUT high yield etf's are a different story.
Wow, are you saying that YieldMax lied on their prospectus that they are selling options premiums on mstr and distributing the earnings as income to the msty shareholders??? Why did the SEC approve such a fraudulent product??? And are you saying that YieldMax has been filing fraudulent monthly reports month after month for 14 consecutive months and with a end of year statements are all fraudulent???