Recent

% | $
Quotes you view appear here for quick access.

Fidelity National Financial, Inc. Message Board

rudfox 27 posts  |  Last Activity: Jan 10, 2016 5:01 PM Member since: May 23, 2002
SortNewest  |  Oldest  |  Highest Rated Expand all messages
  • Reply to

    MPLX-MWE Merger One Month Later

    by buyandwin Dec 31, 2015 7:02 PM
    rudfox rudfox Jan 10, 2016 5:01 PM Flag

    You were given 109 shares of MPLX. It was my understanding that this was not a fully taxable event. I am confident of that. I am thinking that for many, the cash will be considered return of capital. I am less confident of that. It would be nice if there was an investor relations document that spelled that out. Anyway, the K01 will tell the story though it is not easy figuring out where the numbers came from.

  • AstraZeneca, a UK company, is buying ZSPH in a tender offer expected to close this year. The price action tells you it will happen for real. ZSPH holders will pay CG tax for 2015. This is probably motivated by tax efficiencies of moving away from US taxes.

    It seems shocking that this is not easy to find (I could not) on either company's website. You would think that one of them would have made it obvious -- maybe I am too oblivious.

  • AZN, a UK company, is buying ZSPH. Deal is expended to close this year, and ZSPH stockholders pay the capital gains tax on their 2015 taxes. By moving headquarters to the UK, there will be less tax on these operations. It's a little like a tax inversion, but it is a cash buyout.

    There is a tender which I have not looked into. I suspect it gets cash to the holders a little sooner, but you have to be careful that the tender is for the full $90. Sometimes tenders are made by third parties trying to bet a bargain. I doubt that is what this is, but pay attention.

  • I see MIDD on the NASDAQ Noncompliant Companies list.

  • On October 2 each outstanding share of your Wright common stock was exchanged for 1.0309 ordinary shares of a new holding. The symbol stays WMGI. Don't treat this as a split.

    This is fully taxable, which means you treat this as a Sell of your existing WMGI Wright Medical Group for xxx on October 1 or 2 and a Buy of 1.0309*oldShares of WMGI Tornier N.V., which then gets renamed WMGI Wright Medical Group N.V. for the same xxx on October 1 or 2. At some point we will learn what xxx is. It might be $30 per original share, or some other nearby value.

    You will take your capital gains profit or loss on your 2015 taxes. The new stock will have a basis date of October 1 or 2.

    The company is now based in Netherlands. So if WMGI ever pays a dividend, expect 15% "withholding" even in an IRA. The move to Netherlands may have been the unstated motivation because Netherlands corporate taxes are significantly less.

  • Reply to

    Waiting for basis info for JAX

    by rudfox Sep 30, 2015 12:10 PM
    rudfox rudfox Oct 1, 2015 2:46 PM Flag

    The basis info is on the FNF investor information website. This is faster than typical. Nice.

    Bottom line from their example: 14.25% of the basis of FNFV transfers to JAX.

  • In a tax-free spinoff, some of your basis of FNFV, which was a spinoff of FNF, will be transferred to JAX.

    At some point the company will file Form 8937 with the IRS. This will contain sample basis allocation information.

    There are several ways that basis can be allocated. There is no dominant choice that the companies make. You can use a different method than your broker does, but then when you sell you will have to enter more figures to show the difference in reporting. It is easier if you use the method that your broker uses. I expect most people don't track their basis themselves now, but many of us do. I presume, but I am not sure, that the broker will use the method that the company used. If you use personal finance software, it is much easier if you have the information sooner.

    The companies almost certainly already know the method they will use. If you are important to them, they will post that on their investor relations website within a few days after the spinoff is complete. Most companies wait a week or more. Some might take a month, or you might have to find the form 8937 on EDGAR. Considering how easy it is to post the information, it is sad that more companies don't care to make things easier sooner.

  • Reply to

    Waiting on JAX spinoff basis info

    by rudfox Sep 29, 2015 10:25 AM
    rudfox rudfox Sep 30, 2015 12:06 PM Flag

    Sorry, I posted incorrect info... spinoff of JAX is from FNFV, which is a spinoff of FNF.

  • In a tax-free spinoff, some of your basis of FNF will be transferred
    to JAX.

    At some point the company will file Form 8937 with the IRS. This will
    contain sample basis allocation information.

    There are several ways that basis can be allocated. There is no
    dominant choice that the companies make. You can use a different
    method than your broker does, but then when you sell you will have
    to enter more figures to show the difference in reporting. It is
    easier if you use the method that your broker uses. I expect most
    people don't track their basis themselves now, but many of us do.
    I presume, but I am not sure, that the broker will use the method
    that the company used. If you use personal finance software, it is
    much easier if you have the information sooner.

    The companies almost certainly already know the method they will
    use. If you are important to them, they will post that on their
    investor relations website within a few days after the spinoff is
    complete. Most companies wait a week or more. Some might take a
    month, or you might have to find the form 8937 on EDGAR.
    Considering how easy it is to post the information, it is sad that
    more companies don't care to make things easier sooner.

  • I did a search for Ventas 8939. This found a PDF on the website. I wish I could just give you the URL, but bottom line is they did basis allocation of 12.95% to CCP based on Aug 18 NYSE closing prices.

    I have been waiting for that. I did not find it on the investor relations part of the website.

  • Reply to

    new ccp shares

    by margincallman Aug 23, 2015 12:20 PM
    rudfox rudfox Aug 24, 2015 12:29 PM Flag

    You will get paid for the fractional shares. Watch your broker account for a "CIL" or "Cash In Lieu" transaction. It should be dated Aug 21 or Aug 24.

  • Reply to

    Cost basis

    by jwood451 Aug 18, 2015 9:38 AM
    rudfox rudfox Aug 20, 2015 12:59 PM Flag

    At some point the company will file Form 8937 with the IRS. This will
    contain basis allocation information.

    There are several ways that basis can be allocated. There is no
    dominant choice that the companies make. You can use a different
    method than your broker does, but then when you sell you will have
    to enter more figures to show the difference in reporting. It is
    easier if you use the method that your broker uses. I expect most
    people don't track their basis themselves now, but many of us do.
    I presume, but I am not sure, that the broker will use the method
    that the company used. If you use personal finance software, it is
    much easier if you have the information sooner.

    The companies almost certainly already know the method they will
    use. If you are important to them, they will post that on their
    investor relations website within a few days after the spinoff is
    complete. Most companies wait a week or more. Some might take a
    month, or you might have to find the form 8937 on EDGAR.
    Considering how easy it is to post the information, it is sad that
    more companies don't care to make things easier sooner.

  • rudfox by rudfox Aug 12, 2015 12:47 PM Flag

    Is there an advantage to accepting the tender offer vs waiting for the default?

  • Reply to

    Cost Basis

    by janek805 Jul 19, 2015 5:26 PM
    rudfox rudfox Jul 25, 2015 9:59 AM Flag

    Now on Ebayinc inv site, 39.2706% of tax basis goes with EBAY and 60.7294% to PYPL.

  • 39.2706% of and 60.7294% between the two shareshttp://finance.yahoo.com/mb/forumview/?&v=m&bn=e1394825-b7c9-4453-9e19-b5707f0f9350#

  • Reply to

    Cost Basis

    by metropolitannb Jul 21, 2015 10:55 AM
    rudfox rudfox Jul 25, 2015 9:50 AM Flag

    I am pleased to see that there is a "Jul 24, 2015 Form 8937 - Stock Cost Basis Allocation" form on the Ebayinc investor's website.

    Bottom line is that their "example" allocates 60.7294% of the basis to PYPL. It is usually best to follow their example for the small shareholder. They used the NYSE opens on July 20.

  • Reply to

    call options will reflect the split?

    by lucky_lenny_1964 Jul 22, 2015 11:04 PM
    rudfox rudfox Jul 25, 2015 9:11 AM Flag

    I would expect existing contracts to continue until expiration, but instead of just being for 100 EBAY, they would be for a basket of 100 EBAY plus 100 PYPL.

  • Reply to

    Cost Basis

    by janek805 Jul 19, 2015 5:26 PM
    rudfox rudfox Jul 24, 2015 11:39 PM Flag

    They knew how they would allocate the basis in their example within a couple of days of the stocks trading independently for real. Eventually they will post a document with an "example" of allocating basis, and most people will follow that method. That is because the brokers will use that method eventually if you ever sell.

    It is a measure of how important the smaller shareholders are to the two companies in how long they take to get around to that.

    Some will wonder why people care if they are not going to sell right away. Many people use personal financial software, such as Quicken, that needs this info to enter the spin-off transactions properly.

  • Dupont has posted an "example" basis calculation in the investor relations site. This is very probably going to match what your broker uses to track basis and to report to the IRS if you sell. Surprisingly, the "example" uses the average of the high-low on the *second* day of trading. Bottom line:94.915% to DuPont shares and 5.085% Chemours.

  • DD spun off 0.2 shares of CC for each DD on July 1. If the basis is allocated by the ratio of the closes, the new basis of DD is 94.898968% of the former basis. Fidelity seems to be using that method for now.

    If the method is the ratio of the highs and lows (commonly used for many spinoffs), DD keeps 95.168217% of the former basis. You get to choose the method that you use, but matching what the broker reports is the simplest in the long run.

    The DD website is silent on the basis allocation so far.

FNF
31.90+0.16(+0.50%)Apr 29 4:02 PMEDT