Ask Rande 10,000+
- Rande
- TonyFromGlendale
- Rande
- Erik75
- CaptRon
- Rande
- CaptRon
- Rande
- Rande
- SPYDR22000
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» Rande - Re: Everday Anthrax Scares
In response to message posted by Bernie777:
Bernie,
I suppose it will depend on how widespread the attacks become. Looks like the security effort is about to spread from the airport terminal to the corporate mailroom. Just something else we'll have to learn to live with.
-- posted by Rande
» TonyFromGlendale - I-bonds again
Greetings Rande,I understood BBrinker to say this weekend that he was guessing California honored the policy of the Feds and did not require that Ca taxes be paid on interest earned on I-Bonds until they were cashed in...Do you know if that is correct?
Thanks from Glendale!!!
-- posted by TonyFromGlendale
» Rande - Re: I-bonds again
In response to message posted by TonyFromGlendale:Tony,
Not sure what he's talking about. It shouldn't matter one way or the other if I-Bond interest is deferred and paid at maturity/redemption under the cash basis method or paid all along under the accrual method for federal purposes. Interest income on direct obligations of the U.S. Treasury are exempt from state income tax in any event, so not sure what the question is.
http://www.savingsbonds.gov/sav/sbitax.h...
Tax Advantages of I Bonds
Earnings are exempt from both state and local income taxes.
-- posted by Rande
» Rande - Re: Calculating Cap gains
In response to message posted by CaptRon:CR,
Not aware of any free service (other than using one of the historical quote sites and going back manually to figure out splits, etc.). CCH's "Capital Changes Reporter" is the authoritative source for historical changes to corporate structure including splits, reorgs, spinoffs, etc. Here's a link:
http://business.cch.com/capital_changes/...
This is more a product for tax professionals though. Probably cheaper for a one-shot deal to just let the CPA figure it out rather than subscribing. Or, just call the corporate shareholder relations office and/or transfer agent for the company and ask them for info in a pinch.
Anyway, here's some marketing copy on CCH's product:
Capital Changes Reporter
Capital Changes Reporter from CCH presents the facts and figures detailing how a capital change affects the federal income tax liability of a security holder. This information also indicates the adjustment in the basis of securities held and the new basis of securities received, so gain or loss on the subsequent sale of the securities may be computed. The reports are subscribed to and accepted as authoritative not only by financial industry leaders but also by Internal Revenue Service offices.
The Capital Changes Reporter provides:
Complete capital change histories for over 58,000 corporations.
Opinions on taxability of the transaction from the company, its tax counsel, or accountants.
Information on how capital changes affect tax cost basis.
How you can benefit from using CCH’s Capital Changes Reporter:
You’ll get the confidence of knowing that a team of tax experts is monitoring the activities of publicly held companies to determine their tax impacts on securities for you.
You’ll find basis factors that make it easy to calculate changes to the cost basis resulting from capital changes.
You’ll receive expert explanations, cross references, and citations to provide insight on complex issues.
In the loose-leaf, printed version, you’ll find a convenient, logical tabbing system to organize material and speed your research.
Contents include:
Exchanges of Securities in Recapitalization, Reorganization, Merger, and Consolidation
Cash Purchase Offers for Securities
Stock Dividends or Splits and Other Distributions of Securities
Attachments of Rights to Stock
Offering, Adjusting, and Calling Convertible or Exchangeable Securities
Offering “Units” (one or more securities packaged together)
Liquidating Distributions
Worthless Securities Losses
The Capital Changes Reporter is available in three convenient formats:
Seven loose-leaf volumes: Updated weekly and includes the weekly Report Letter.
CD-ROM: Updated monthly and includes user guide, user aids, toll-free support, and the Insight newsletter.
Internet: Updated daily or monthly and includes user guide, user aids, toll-free support, and the Insight newsletter.
-- posted by Rande
» CaptRon - Re: Re: Calculating Cap gains
In response to message posted by Rande:TYVM, R. That is the definitive site, according to my CPA sources too. They also said to try any personal contact at full svc brokerage as their back offices use CCH.
Good tip on companys corp investor relations dept. Found F has one online....
Also found this which has 30 day free trial, but only has capability of going back to 12/98 purchase, as far as I can figure anyway.
http://www.gainskeeper.com/
Guess it's stubby pencil time...8-)
Thanx again, R...
-- posted by CaptRon
» Rande - Re: Re: Re: Calculating Cap gains
In response to message posted by CaptRon:CR,
Asking the broker is worth a try, though the standard "consult your tax advisor" is the likely response. The F thing has cropped up all over the place this year. Didn't run across it myself, but understand that quite a few had to deal with the cost basis issue. If I find anything out, will pass it along.
-- posted by Rande
» SPYDR22000 - capital losses-
Rande,May capital losses not used to offset gains in the
year of the losses, be used to offset future
capital gains. For example, if next year I have
a capital gain from the sale of a rental house,
or stock, may the loss from this year be used as
an offset?
Thanx-
-- posted by SPYDR22000
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