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BP Prudhoe Bay Royalty Trust Message Board

  • genem7169 genem7169 Jan 12, 2010 2:33 PM Flag

    tax question

    Suppose I purchase 100 shares of BPT today @ $88.80/share. Thats $8880 investment, plus commision of $7. So my original cost basis is $8887.00.

    Now from what I understand about MLP, every distribution lowers my cost basis. So after one year my cost basis would be $8887 - $692 = $8195. If I sell after one year and the price is $91.00. My gain would be taxed on $9093 (subtract commision) - $8195 = $898

    Of the $692 I would receive during the year as distribution approximately 90% would not be taxed?

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