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Inergy, L.P. Message Board

rudfox 14 posts  |  Last Activity: Jan 28, 2015 12:38 PM Member since: May 23, 2002
  • Reply to

    Question For COV Owners

    by famin77 Jan 27, 2015 4:26 PM
    rudfox rudfox Jan 28, 2015 12:38 PM Flag

    Thanks. I just did that.... I had 50 COV. Realized gain/loss report shows I got $5,356.93 as the proceeds. I will treat that as a SELL of 50 COV for $5,356.93 (50*$75.26). I got $1759.50 cash. and that computes to $3,597.43 for BUY of 47.8 shares of MDT. That corresponds to $75.26 MDT close on Jan 27.
    I will then do a SELL of 0.8 MDT for the CIL amount, which leaves me with 47 MDT. The basis of the remaining 47 is 47/47.80 of 3,597.43 which is $3537.22. the basis of the 0.8 sold will be $60.21.

  • Reply to

    UBTI

    by zaral36 Nov 28, 2014 2:17 PM
    rudfox rudfox Jan 28, 2015 12:04 PM Flag

    If the shares are held in an IRA, there is no reason to worry about schedule E.

    If not in an IRA, you copy a number to an appropriate box on turbotax Premier, or you point out the paragraph on the documents that come with the K-1 to your tax preparer if you use one.

  • Reply to

    Basis allocated to REMY from FNFV

    by rudfox Jan 3, 2015 1:13 PM
    rudfox rudfox Jan 28, 2015 12:00 PM Flag

    I still have them. That does not mean that I did analysis, but it does seem to be a lucky choice.

  • Reply to

    Question For COV Owners

    by famin77 Jan 27, 2015 4:26 PM
    rudfox rudfox Jan 28, 2015 10:44 AM Flag

    I have a more wordy description. For each COV share you held, you received $35.19 in cash and 0.956 of an ordinary share of Medtronic MDT bought by COV. The purchase accounting, required with the move to Ireland, causes the transaction to be treated by US taxes as a SELL of all of your COV (on Jan 27 I think), and a BUY of MDT shares.

    The basis of your new MDT shares will be the cash you received (both the $39.19 and the CIL) plus the value of the MDT shares received.

    How will those MDT shares be valued?
    MDT historical prices:
    Date Open High Low Close
    Jan 27, 2015 75.02 75.61 74.62 75.26
    Jan 26, 2015 76.87 76.93 74.98 75.59
    I am not sure. I would guess $75.02 if I had to pick one, but I will postpone entering this into my software until later to get a better view of what the company posts or the brokers settle on. While the IRS will allow some leeway, it is usually best to use the method that your broker uses when it reports to the IRS. The MDT website will post an "example" soon if it cares about the small shareholders, it will post later if it cares less.

    COV closed at $106.71 on 2015/1/26. That does not affect the tax calculations, I don't think.

  • Reply to

    Cost basis

    by malk1235 Dec 4, 2014 1:57 PM
    rudfox rudfox Jan 28, 2015 9:50 AM Flag

    marnavcopi is correct. This is due to the Sell+Buy accounting due to MDT moving the domicile to Ireland. The executives got extra money (your money) to pay for the capital gains taxes. You will pay your own capital gains.

    COV closed at $106.71 on 2015/1/26 That does not enter into the calculation, I don't think.

    I don't know what MDT price should be used.
    Date Open High Low Close
    Jan 27, 2015 75.02 75.61 74.62 75.26
    Jan 26, 2015 76.87 76.93 74.98 75.59

    This forum will go away soon. MDT forum will continue.

  • Basis allocation note has been posted onto the FNF investor's web page.

    In their example, they use 29.77% of the basis allocated to REMY based on REMY closing price on Jan 2 and FNFV close Dec 31.

    Glad to see this timely website posting.

  • Reply to

    Basis allocated to REMY from FNFV

    by rudfox Jan 3, 2015 1:13 PM
    rudfox rudfox Jan 5, 2015 2:02 PM Flag

    Basis allocation note has been posted onto the FNF investor's web page.

    In their example, they use 29.77% of the basis allocated to REMY based on the closing prices on Jan 2.

    Glad to see them on the ball with an above-average posting performance.

  • When FNFV was spun off fro FNF, the basis allocation that FNF used as the example, and the number they reported to the government, was based on the close on the first trading day after the distribution (Jan 2).

    If they do that same method again, and if I did it right, the 0.17879 shares of REMY spun from each FNFV would carry 24.647086% of the basis. If they used the average of the highs and lows f(a popular method), the number would be 22.979265%

    The announcement will be posted on the investors section of the FNF website. (there is no FNFV or REMY investors website as far as I know. The delay in posting will be affected by how important smaller investors are to them. Small investors will generally follow the number the company uses in the example, because that is what the brokers will report to the IRS. It is too much trouble for the small investor to document the difference to the IRS due to using a different method, so they will go with the reported number.

  • Reply to

    Cost Basis

    by monroe74 Dec 1, 2014 1:10 PM
    rudfox rudfox Dec 9, 2014 8:31 PM Flag

    Go to oxy site. Click on Investors. Move pointer to a blank spot on the page if the link is covered up.

  • Reply to

    Cost Basis - OXY Shareholders

    by emanymemanym Dec 6, 2014 1:08 PM
    rudfox rudfox Dec 9, 2014 12:57 PM Flag

    That is very close to the 96.515% to OXY shares and 3.485% to CRC shares that is linked to as an example on the OXY investor relations website.

  • Reply to

    Cost Basis

    by monroe74 Dec 1, 2014 1:10 PM
    rudfox rudfox Dec 9, 2014 12:52 PM Flag

    On OXY website Investor Relations, "Occidental Petroleum Corporation Guidelines for cost basis " 96.515% to OXY shares and 3.485% to CRC shares." as an example. I suspect that is what will be reported on the attachment to IRS 8937. The attachment is not posted yet.

  • Reply to

    Cost Basis

    by monroe74 Dec 1, 2014 1:10 PM
    rudfox rudfox Dec 4, 2014 10:23 AM Flag

    If we have to wait until posted on EDGAR, http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000797468&owner=include&count=40&hidefilings=0 I think would be the URL. Of course this post might be deleted because it has a URL despite it being an SEC link.

  • Reply to

    UBTI

    by zaral36 Nov 28, 2014 2:17 PM
    rudfox rudfox Dec 2, 2014 9:34 AM Flag

    There may have been a *tiny* amount of UBTI in prior years, if I remember correctly. No UBTI for 2013. The bulk of the money is royalty money and is not UBTI. This is is a good one to put in the IRA

    Remember to read the documentation to generate the schedule E info for the royalty and depletion if not held in an IRA. No such work if you hold DMLP in an IRA.

  • Reply to

    Cost Basis

    by monroe74 Dec 1, 2014 1:10 PM
    rudfox rudfox Dec 2, 2014 9:19 AM Flag

    Good info. With the brokers now reporting the basis to the IRS, it is simpler to use the same ratio that will be used to produce that basis. Yes, you can use one of the allowed methods, but the extra work to figure out how to report that makes waiting to see what OXY posts worthwhile. I presume the broker follows the method that the company issues.

    They often use the average of the highs and lows on the first day of trading to develop the number, but we cannot count on that. It would be helpful if OXY were to make the decision as to which method to use and then publish that quickly. All information needed already exists. It just takes an effort to be proactive rather than laid-back. I think the company has to file something with their chosen ratio. It would seem simple to put the numbers on the website soon, rather than waiting for the document to show up on EDGAR.

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