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Clauses to treat REIT distributions as capital gains or ordinary dividends

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readmylips_nonewtaxes

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May 12, 2021, 10:17:37 AM5/12/21
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Is there any clause which may allow a non-resident, but US citizen tax filer who received a US REIT return of capital distribution to treat the ROC as a capital gain or ordinary dividend in the current tax year? I have read that US REIT distributions are generally treated as ordinary dividends for those resident in Canada on their Canadian tax returns, regardless of their classification as ROC, capital gain, etc. I was wondering if there was anything similar which may allow me to maintain my cost-basis of the REIT security and treat the ROC distros as capital gains or ordinary dividends?

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