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Author: AngelMay Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: And One Last Puzzle Date: 3/7/2012 11:58 AM
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I can't believe I have all these problems facing me with taxes this year, but here goes one last one:

My husband bought and sold CEF (Canada Fund) this year.
The information he got from them was something to the effect that:

"As it is likely that Central Fund of Canada Limited ("Central Fund") is a Passive Foreign Investment Company ("PFIC") for U.S. Federal income tax purposes, Central Fund is providing the following information to its shareholders to allow them to make a Qualifie Electing Fund ("QEF") election with respect to their investment in Central Fund, should they so desire."

First of all, What is a Passive Foreign Investment?

Secondly, it sounds like I don't have to do this QEF thing if I don't want to.

Do you know anything about this particular stock/fund?
Is it treated the same as SLV?

Is it something completely different?
Is it a collectible thing like SLV?

What do I tell TurboTax wrt this sale of shares?

I believe he had three different purchases/sales.
On one purchase he made money.
But overall, he lost.

Any help here would be appreciated.

...I already told my husband to stop buying this weird stuff and just stick with ordinary stocks - we can lose enough money doing that without losing even more on foreign stuff.
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