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pfjturner 3 posts  |  Last Activity: Dec 8, 2014 1:55 PM Member since: Sep 14, 2007
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  • Reply to

    Cost Basis - OXY Shareholders

    by emanymemanym Dec 6, 2014 1:08 PM
    pfjturner pfjturner Dec 8, 2014 1:55 PM Flag

    Scottrade computed my cost basis in my CRC shares as 3.486% of my pre-spin-off basis in my OXY shares. (So, of course, the remaining 96.514% is my new basis in my OXY shares.) Using first day closing prices, I had roughly calculated something a little higher for CRC, but not by much, so i will go with the Scottrade number, seeing as it will be the basis of their reporting to the IRS for my "covered" OXY and CRC shares. (Not that I plan to sell either any time soon.) I assume that Scottrade either got this allocation from OXY, or used an allocation formula acceptable to the IRS.

    Sentiment: Hold

  • Reply to

    Where is the crc shares, today

    by bnwild56 Dec 1, 2014 10:29 AM
    pfjturner pfjturner Dec 1, 2014 2:38 PM Flag

    They may also be delayed if your broker is trying to calculate your "covered" cost basis in the new CRC shares per recent IRS rules.

  • Reply to

    Cost Basis

    by monroe74 Dec 1, 2014 1:10 PM
    pfjturner pfjturner Dec 1, 2014 1:47 PM Flag

    CRC cost basis is a % of your old Oxy basis.

    The % is:
    (CRC price * 0.4) / ((CRC price * 0.4) + OXY price)

    IF you use the 11/28 closing WI prices, you get:
    (8.05 * 0.4) / 79.77 (price of the still-combined company)
    3.22 / 79.77
    4.04%

    OR
    you can use today's closing prices (in which case you must add today's post-split OXY to today's closing CRC)
    for a ballpark estimate, based upon the current intraday price:
    (7.00 * 0.4) / ((7.00 * 0.4) + 78.56)
    2.80 / 2.80 + 78.56
    3.44%
    (of course, you'd have to recompute in about 2 hrs & 15 minutes)

    OR
    you might save yourself a lot of math and wait a few days to see if the OXY website suggests a % split

    I hope this helps

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