NEW YORK--(BUSINESS WIRE)-- New Residential Investment Corp. (NYSE:NRZ, “New Residential”) today announced the tax treatment of its 2013 common stock dividend payments.
Common Stock Dividends
During 2013, taxable dividends for New Residential's common stock (CUSIP# 64828T102) were $0.495000 per share. The entire fourth quarter 2013 common stock dividend was treated as having been received by shareholders and taxable for 2013. The following table summarizes the tax treatment for the 2013 common stock dividend payments.
Record Pay Taxable Long-Term Return of
Date Date Distribution Form As Ordinary Qualified Capital Gain Capital
2Q13 06/13/13 07/31/13 0.070000 Cash 0.063009 0.000000 0.006991 0.000000
3Q13 09/27/13 10/31/13 0.175000 Cash 0.157521 0.000000 0.017479 0.000000
4Q13 12/30/13 01/31/14 0.250000 Cash 0.225031 0.000000 0.024969 0.000000
Totals 0.495000 Cash 0.445561 0.000000 0.049439 0.0000
I saw the same type of release for nct Bob. Looks like about $2.50 total for nct. Holy smokes, I'm going to have to take out a loan to pay for the combined tax hit. Wwish more of it could have been considered cap app since I have been carrying losses from the 2008 debacle. Can't complain too much as though as nct has done quite well for us-Wally
I think I am going to have to have a professional do my taxes for the first time in my life as this NRZ spin off tax has me perplexed...It appears to me that the entire spin off is a taxable dividend...and if so then what is the cost basis for the NRZ shares when you sell them down the road? And then aren't you being taxed twice on the same asset?
I'm with you on this one wally - I hate the IRS FMV calculation for options and stock spinoff/splits. Made a ton of money with NCT over the years, but writing a check for mid five figures still hurts. Let's hope management can keep this ball rolling.
Well, there's our cost basis answer on NRZ wally: $4.55 ROC, $2.34 taxable spin off as a dividend (as I read it). I only got the tax info from NRZ for dividends. Didn't get the NCT email, which is much more important. Thanks for posting.