Which contracts? Month/strike ???? Just curious….
I hold 15% cash and sell puts against quality stocks I already hold (not MSB) and would buy more of at a price 15% below the current price, and I try to sell the puts just after a down correction. I've only been burned a few times.
Who cares about the next arbitrary round number? 60-70-80 etc.
The odds are 11:2 that you did NOT ride the "recent" 6 year climb from about 13 to 65.
Did you also belittle the "attack" on 20, 30, 40, 50 and 60?
My state allows me to not pay my state tax on income already taxed to another state like MN. MSB will be a great return, as long as it isn't closed down by CLF for some months like it did several years ago. If that unlikely event happens again, then before they announce a reopening, pile in and buy up to 10% of your total assets as MSB.
Google "soo locks web cam" and see for yourself. It looks like the ice has been broken near the locks. Locks open around March 25.
As with any state income tax, it can be added to deductibles on the Federal Form 1040 Schedule A.
After all purchases are long term for an entire tax year, tax preparation becomes easier, although the yearly adjustment to basis for each purchase lot requires some added record keeping. And the depletion varies significantly each year, and can't be known until the Tax Guide comes out in February. I hope you didn't buy in many small lots, for which the basis adjustment for each lot must be calculated yearly. Good luck.
The deal closed and any capital gains income taxes are due by April 2016. Where were you last week? Make your pizza from scratch to save money.
In the absence of a document from either Mylan or from a brokerage holding the shares which a taxpayer can point to (if and when the IRS asks) the best basis going forward would be the average of the day's high and low. (assuming Feb. 27th: high=58.37, low= 56.89, and average= 57.63)
There is no timeline now, since the deal closed today.
The only question is, what was the price per share of old Mylan for calculating capital gains?
I hate having to send the IRS the taxes for this non voluntary "sale".
I assume the Mylan management had to process their holding similarly.
Do any of their forms of compensation escape these taxes?
The CEO was alarmingly INCOHERENT in explaining the split. What a BSer! I wonder if the split values will even exceed what the combined value is today. It could be worse in a year. I'll be happy with something above $20/share combined. Or why not sell Cranes now, pay down the remaining debt, sack the CEO and Board, and let the Food business continue with a new CEO and Board. I might keep those shares. I've been in MTW since catching a falling knife around $5/share some years ago. Considering the senior management and Board, I'm lucky to be ahead today. GLTA in trying times.