Replies to post #48 on Novartis (NVS)

[DewDiligence]

It’s best to hold NVS in a taxable account so you can apply the 15% Swiss tax withheld from your dividend against your 2010 US income-tax liability. When the shares are held in a tax-exempt account such as an IRA, you can’t recover the 15% Swiss tax and you are simply out the money. Regards, Dew

p.s. The above applies to any foreign dividend-paying stock, not just NVS.