According to the proxy - the reverse split is needed because there aren't enough authorized shares to complete the merger with PGN (don't know why they can't just authorize more shares). This reverse isn't like the one Citi had earlier this year because the trading price of the stock was too low. To me, the turmoil of putting the companies together is more of a threat to the stock price than the reverse split. I own shares in both SO and DUK, so I am not trying to sway anyone's stock selections.
FYI - DUK is in the process of getting stockholder approval of a 1/3 reverse split that is supposed to be needed for the buyout/merger of PGN. I think the last time they raised the dividend they raised so Cinergy stockholders would continue to get the same dividend as they had before the buyout.
I just took the information from the web page where it says 'transfer federal amounts to IRS tax forms' and used the override feature in Taxcut to plug in the amounts. Of course you have to add the taxable interest amount to whatever else you have and be careful that Taxcut puts the correct amounts into the 1116 form.
Too bad the 4th one didn't fall overboard - when the ACLU gets through we will be paying him damages for not reading him his rights.
IRS instructions for line 47 states that all of your foreign source income has to be from interest and dividends, since this is royalties you have to use 1116
Check the IRS instructions for line 47 - it says all of your gross foreign source income has to come from interest and dividends. I used TAXCUT and overrode form 1116 to enter it myself - really big pain.
I am unaware of a Southern preferred, you might have to buy preferred shares of the operating companies - Georgia Power, Alabama Power, Mississipi Power, Gulf Power, etc. Preferreds of the operating companies can be bought and sold through your broker.
Well, don't think you can rely on Medicare. They pay the Drs so little that if you can get one to see you, they fly through the office like they are on roller skates.
With the current financial climate, you wonder how they could get financing to build a nuclear plant. Those are usually financed with bonds, which requires underwriters and the large commercial banks are going into cocoons.
If what I found on the web is correct, we lose our favorable taxation for dividends 1/1/2009.
About the tax on dividends - when Bush took office in 2000, his tax reduction plan included a change from taxing dividends as regular income to taxing them as if they were long term cap gains, 15% max. That tax reduction plan is due to expire (I don't know the date). I think Obama said he would raise he tax on dividends from 15% to 20%. I am more concerned about his opposition to nuclear power, particularly since SO wants to add another unit to Plant Votgle.