VERIZON - Canadian Selling US stock - No US capital

QUESTION:
My wife owns 1500 shares of Verizon stock. As we are in our early 60's we
would like to start selling it. I am being told that the US government will
hold back 30% for their income tax purposes. How can she get some of it
back, or can she?
==============================
david ingram replies:
There is no withholding for a Canadian selling US Publicly traded stock.
Get hold of form W8-BEN and send it to your stock broker.
If a Canadian you should pay 15% withholding tax on any dividends under
article XI of the US / Canada Income Tax Convention (1980)
There is no capital gains tax to the US for a Canadian holding any US
publicly traded stock.
If they do insist on withholding it, you can get it all back by filing a
form 1040NR and requesting the refund.
Remember that the profits ARE taxable on Schedule 3 of your Canadian T1
Return
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