Not real happy with the cash and stock transaction.
For me, it means approx $20000 of extra taxable income. Further, if the stock takes a hit from the reverse split, I'm down even more as far a paper loss. I would have preferred an all-stock transaction since any loss in share price would only be on paper and there would be no tax issues. This transaction should have created profit for me. Instead it appears at least for now as only costing me money. If anyone has any ideas as far as minimizing the tax consequences, please advise. Also, if anyone can put a positive spin on this sale, throw it at me.
I prefer stock buyback to cash distribution as well for tax reason. It seems you can choose the distribution as cash or return of capital in VOD announcement. Return of capital should be tax exempt for now, but the stock purchasing price will be adjusted accordingly so you may pay capital gain when you sell VOD later.
Sorry pal your head is empty too...the man invested his money wisely over a long period of time and expects to get paid for it. I am unhappy with this scenario as well. Why should I pay capital gain taxes on something I did not wish to sell? I have no doubt we will do well over the long term but nothing is certain in this world.
I do not need a response like that-we are all here to make money and minimize any tax consequences. It took a lot of creativity to come up with your response. One should never call one a fool unless looking in the mirror.