Morton Fox (mortonfox) wrote,
Morton Fox

Split-up Saturday

Turtleback Rock Park

Did two geocaches in the South Mountain area in Essex County this morning. Then I dropped in at work for a bit. Then I went to Connecticut and did two more caches. Passed by Palisades Center on my way back. Saturday is the mall's second-busiest day so I decided to just leave if there wasn't a parking space. Guess what? I got a parking space and it's in the underground lot near the center elevators where I usually park anyway. Such luck! So I got some of the usual errands done. The downside is all the restaurants had lines of people waiting. So I just went to the food court, where the "cajun" place had no customers. Hmm... are people trying to tell me something?

Got the NJ driver's license renewal form in the mail today. One big change is they now require several kinds of ID for ID verification. It's like a Chinese menu of identification. Choose one ID from Column A and one ID from Column B, mix it up, and then you get stir-fried identification with green peppers. I wonder if I can get an "NJ firearm purchaser card". Not like I have to use it or anything. :)

One thing that occurred to me concerning IRAs: When you own foreign stock in a non-IRA taxable account, part of the dividend often gets withheld for taxes by the foreign government. Then when you file your taxes, you pay the tax on the full dividend but receive a tax credit for the foreign tax that was withheld. (barring any complications with Form 1116, that is) But how do you get the tax credit if the foreign stock is held in an IRA? That would seem to either be impossible or very difficult. (i.e. country-specific forms have to be filed with the foreign company so that tax is not withheld at source, and that's only if there is a foreign tax treaty covering retirement plans) So the solution is not to hold foreign stocks in an IRA? There has to be a better answer. Note that this also affects mutual funds. I noticed that many mutual funds, even domestic ones, have some foreign stocks. For example, the Mutual Series funds, part of Franklin-Templeton, which used to have mostly domestic stocks, now have over 40% foreign stocks in their portfolios according to Morningstar. (They really ought to reclassify those as global funds. Also, yeah, I have the Z-class shares because I had those funds before they joined Franklin-Templeton and I didn't sell afterwards. Okay, I'm rambling again.)


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