PFIC impact using Optimize Portugal Golden Opportunities fund

Has anyone had experience filing tax forms in US after having the Optimize funds? I see requirements to file 8621, 8938, and FBAR. I understand QEF election to some degree.

  • Did you find you paid a lot in taxes compared to US funds? Is it simply cap gain on increase in shares, even if you didn’t sell? I wasn’t sure if QEF is similar to mark to market where you have gains, even though you didn’t realize them.

  • I use Turbo Tax and see it can’t handle these forms. Did you pay a tax company to file the forms and did they handle only those or your entire form? I see H&R block can file the forms.

Thanks for any insights.

Check out this thread

Generally speaking, yes it’s a lot of money in taxes, and yes it’s similar to M2M, and I file physical tax forms mostly using freetaxusa for everything but the forms it doesn’t support

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