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  • torpdrengen torpdrengen Dec 24, 2003 11:49 AM Flag

    It�s the $.99 distribution

    Yesterday I bought at 2,84$

    Today I panicked and sold at 2,10$.

    Will I get 0.99/share compensation or should I now buy back those 8000 shares I sold?

    Thanks for an answer in advance.

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    • Given the European price possibly headed lower, if you were to re-buy, wait till and see where you think it's headed to possibly get a better price.

      You should get the 99 cent distribution IF they in fact pay it because you bought the day before the EX-div date.

      Rebuying the shares, however, creates a "wash sale" in that you cannot write-off your 1-day loss because you repurchased within a 3-day window either before or after the sale. As such, you must absorb the loss and add that amount to the basis of your repurchased shares and in this case resetting the effective purchase purchase date of your new shares as yesterday. If this sounds confusing, go to the TURBO Tax website inside Quicken and read it there.

 
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