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Paragon Offshore Limited Message Board

darnoc1111 4 posts  |  Last Activity: Aug 21, 2014 4:12 PM Member since: Jan 11, 2006
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  • Reply to

    SO CONFUSED

    by six6pack2go Aug 21, 2014 8:47 AM
    darnoc1111 darnoc1111 Aug 21, 2014 4:12 PM Flag

    If you have UBTI of over $1,000 then you will have to pay tax on you income even in a tax deferred account look up the rules.

  • Reply to

    I sold my KMP and replaced it with LINE

    by zbgb952 Aug 20, 2014 1:22 PM
    darnoc1111 darnoc1111 Aug 21, 2014 4:04 PM Flag

    I do not understand why you would short KMI since once the takeover is done the stock price will go much higher, unless you think the deal will not go through? Also if this forced sale was never done you could sit with your shares forever and not be stuck with the high taxes. The only way you benefit is if you sell KMP and buy something else.

  • darnoc1111 darnoc1111 Aug 21, 2014 4:00 PM Flag

    I do not think you will get any more shares of KMI no matter how high the price goes since the conversion rate is 2.1931 plus $10.77 for ever share of KMP you own. The higher the stock price the higher the taxes. The only thing different will be your new basis in KMI. If you owned KMP for any length of time the income will probably push you up into a much higher tax bracket than you think. Also there is the Obamacare tax of 3.8% to add onto your regular tax rate you will also have to consider. This deal is not very good for long term holders.

  • Reply to

    I sold my KMP and replaced it with LINE

    by zbgb952 Aug 20, 2014 1:22 PM
    darnoc1111 darnoc1111 Aug 21, 2014 3:48 PM Flag

    I have been thinking of replacing KMP with another MLP also. The problem with trying to get the highest price is the taxes that will bring along with the higher price. If you have owned KMP for a long time your tax burden will be quite high. Also if you want to determine your approx. tax burden to 2013 you can go to KMP's K1 site and click on the link at the bottom of the left side that say projected gain/ loss calculator. This may be a good deal in the long run if you can afford the taxes and reduction in income.

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