Yup--the more I dig into it the more it looks like it will be a taxable event but the amount taxable will not be known until 2015. UGH. Because the divy for SNR will be lower than NCT dividend , and
because SNR lost value right away I will be paying taxes on a down turn on a lower over all dividend and lower capital holdings. Not good for me, but I am sure it is good for someone.
Announced Divy on December 22: NCT will be 12 cents per share and SNR will be 23 cents per share.
My brokerage statement lists a dividend on December 24 of almost $6,000 from NCT and then a dividend charge for SNR of equal amount. I called up the brokerage for further explanation and they said I needed to talk to my tax accountant which until this moment has been me doing my taxes on software. Life has been simple for tax purposes with no puts, shorts and such. It appears that this $6,000 is a fully taxable event. Does anyone have further knowledge?