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Fidelity National Financial, Inc. Message Board

  • michaeliklein michaeliklein Feb 10, 2006 10:19 AM Flag

    Tax Help

    Hi There,

    I have been holding FNF for awhile. I have held through the $10 special dividend and the FNT spinoff. The $10 special dividend I reinvested into FNF and I hold all the FNT spin-off shares.

    I am getting confused as both are obviously considered cash dividends but on my 1099 I show some a an ordinary dividend and some as a qualified dividend. My question is:

    1) The 410 special dividend - is that considered ordinary or qualified (I have held for the required holding period)

    2) The FNT spin-off - Is that ordinary and qualified. And if I haven't sold FNT does that change it to a qualified dividend even if it as ordinary (meaning I just reflect change in cost basis)

    I appreciate any help you can provide as I can't understand why my ordinary divident amount is as high as it is when I thought both of these would be considered qualified dividends

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    • I beleive they are both qualified dividends on FNF. You could have sold the FNT without making the dividend not get un-qualified. It is as if they gave you cash, and you bought the FNT shares with the proceeds. The dividend amount will be your FNT basis on those shares.

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