Brookfield Renewable (BEP) and Tax questions

I am trying to help my cousin. He owns Brookfield Renewable (Stock symbol BEP) - working on sending his info to his CPA for his taxes.

He was paid a little over $1000 in “Partnership Distributions” for this stock. Then, his statement says foreign tax was withheld of $139. From what I can find out, this is a Canadian company, thus the “foreign tax withheld.” But it seems like these are not treated as normal dividends? Or are they – just with foreign tax withheld?

I am trying to figure out if this is a REIT… or something? or is it just as simple as a Canadian stock with foreign tax withheld.

On his Consolidated 1099, it is listed separately from his normal dividends, so I am just trying to figure out why that is… Thanks.

-Footsox

I am trying to figure out if this is a REIT… or something? or is it just as simple as a Canadian stock with foreign tax withheld.

BEP is a limited partnership. He should get a K-1 if he owns BEP If he owns BEPC, it’s a Canadian corporation and would be reported on his 1099. You might want to take a look at this article https://seekingalpha.com/article/4421016-brookfield-renewabl…

AJ

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Thanks for the link AJ. I appreciate all your help.

-Footsox

Correct, he should receive a separate K-1 for BEP very soon. Mine just arrived in yesterday’s mail.

He might also receive a Corrected Consolidated 1099 very soon that reflect’s final distributions input from holdings such as BEP.