2017 US TAX FILING
Unitholders of Sunstone U.S. Opportunity (No. 4) Realty Trust received a special distribution and final cash distribution on August 18, 2017 due to the successful sale of Grand Parkway (90% interest) and Embassy Suites DFW, which were divested in January 2017.
The capital gains associated with the subsequent distribution of the sale proceeds triggered a tax obligation with the Internal Revenue Service (“IRS”) of the United States of America which means each investor must file a U.S. Tax Return in order to receive a U.S. Withholding Tax Refund.
If you did not complete the online questionnaire by April 1, 2018 and would still like to receive a U.S. Tax Slip, you will need to complete the following documents:
and email these two documents to email@example.com.
Under the general rule (IRC section 6501), the statute of limitations for filing a 2017 US tax return will be
April 15, 2021, three years after the original filing deadline. Please be aware, the IRS has a specific rule (IRC section 6511) that states when a return is not filed, the statute of limitations is two years from the date of the original filing deadline, which would be
April 15, 2020.
This information is general in nature and provided as reference only. Sunstone cannot guarantee that the IRS will process a return filed after the specific rule deadline but before the general rule deadline and therefore recommends filing prior to the two year statute of limitations.
2017 CANADIAN TAXES
The 2017 T-3 tax slips for Sunstone U.S. Opportunity (No. 4) Realty Trust will be be issued by the participating brokerage firms. The deadline for mailing these slips is March 31, 2018. To obtain copies of your Canadian tax slips, please contact your financial advisor. For tax information specific to your personal tax characteristics, please contact your tax accountant.
sunstone u.s. opportunity (No. 4) realty trust tax factors
If units are held in a registered account, RRSP, RRIF, etc., no Canadian tax slips will be issued.
A unitholder is generally required to file a US federal income tax return to establish their final US federal income tax liability to support the unitholder's claim for a foreign tax credit or deduction, where applicable, on the unitholder's Canadian income tax return.
In this regard, it should be noted that a unitholder's ability to claim US taxes relating to Units as foreign tax credits or foreign tax deductions for Canadian income tax purposes is complex and will be affected by a number of factors including those relevant to the unitholder's own particular circumstances.
Accordingly, unitholders should consult their own tax advisors regarding their ability to claim foreign tax credits or foreign tax deductions for US taxes paid in respect of Units.
If you have any questions regarding tax information, please contact:
Sunstone Advisors (US) Inc.
Toll Free: 1-888-681-5959 ext. 1555