According to my CPA, I have a bunch of foreign tax credit carryovers from 2007 that expire after this year and I’m trying to find a cheap and risk-free way to use them, which will require me to generate some “foreign income” before the year ends. I do my trading within an LLC with mark-to-market accounting.
The best idea I can come up with is buying EWU ahead of its December ex-dividend date and hedging against price movements in EWU by shorting FTSE 100 (not exactly the same index tracked…