Feb. 25 at 5:00 PM
$BTCI $SPYI : I’m going into year 3 owning SPYI and year 2 of BTCI. I’m cutting and pasting a response I did with some people about how these are taxed. Largely as advertised and when held more than 365 days , it’s spot on.
One thing that surprised me: I received 2.58% in qualified dividends in SPYI which is higher than the S&P 500 pays. I expected 0% QUALIFIED Dividends. My situation is unique because my buys coincided right before ex-dividend dates by luck and not skill. I hope this can help someone. I could make the case that new retirees with TAXABLE accounts could generate enough income by just owning SPYI and BTCI with whatever ratio and risk one can tolerate.