# Mexico !



## chuck846 (Jan 15, 2016)

I'll use one account as an example but I have this situation with several. We will talk dollars. This account held Mexican government bonds (CETES) through out all of 2015. In June a bond was redeemed let's say for $2kUSD (nominal interest). In December another bond redeemed for another $1K USD (nominal interest). All the Mexican financial institutions issue yearly account status docs. For this account - which had other bonds which have not yet been redeemed - the bank reported $4kUSD nominal interest. I can only assume that the $1kUSD difference is what the non-redeemed bonds have accrued.

How should I handle that ? I have all my monthly statements. I would much rather go through each of them and do the math myself - rather than relying on the banks math.


----------



## Bevdeforges (Nov 16, 2007)

If you'd rather go through the monthly statements yourself, knock yourself out. I've done something similar when there was a problem with the annual amount reported by my husband's French bank and it was well worth the while. (The bank was using faulty information to report the gains and losses.)

For your US taxes, the IRS won't necessarily be expecting you to report the same figures as on the statements you've received. But if they should ever ask, you'll have your calculations to show how you came up with the numbers you reported.
Cheers,
Bev


----------



## chuck846 (Jan 15, 2016)

We visited the bank this morning to purchase auto insurance and took the opportunity to ask about my discrepancy. Turns out the 'Nominal interest' reported on the annual report is INCLUSIVE of the taxes we paid. Therefore - yesterday I would have backed out the taxes paid TWICE. I feel a little stupid - but it would have been a very honest mistake.


----------



## Bevdeforges (Nov 16, 2007)

You know that old expression: the only stupid question is the one you didn't ask. Glad you got to the bottom of that one.
Cheers,
Bev


----------

