Harlan Lunsford wrote:
- quote -

Escheat. The company must have nexus in Illinois and turned
over unclaimed stock proceeds to that state as required by
law. I know NY has a specialized auditors who chase after
these kinds of things.

--
Frederick E. Jorden http://Tax-Accounting-Payroll.com
7825 Midlothian Tpk - 207 Richmond, VA 23235-5247
EMAIL knowtax[at]bigfoot.com
(804) 320-6210 FAX (804) 320-6211

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"Dick Adams" <rdadams[at]smart.net> wrote:

- quote -

It's a Schedule D transaction with the "buy" date of when
you first took out the policy and a basis of zero.

--
Phil Marti
Clarksburg, MD

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- quote -

This is a long term capital gain. Your cost basis as with
all Ins Co. demutualizations is zero. Buy date is thet date
the shares were issued. Don't recall excat date but believe
JHI demutualized back in 2001.

Dave

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"Dick Adams" <rdadams[at]smart.net> wrote:

- quote -

Cap gain.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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"Dick Adams" <rdadams[at]smart.net> wrote:

- quote -

If this is a "refund/dividend of premium " for a policy you
never took as an expense, I wouldn't do anything with it. If
its a true income item, I'd treat it as "other income" not
subject to SE tax.

Mike Lewis, CPA

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Dick Adams wrote:

- quote -

John Hancock is an old Boston company, so what's Illinois
got to do with it?

anyway, John Hancock got bought out by a Canadian company,
so I rolled over my IRA there to good old T Rowe Price,
youknowwhere.

ChEAr$$,
Harlan Lunsford, EA n LA
2 Apr 2005
13 days and counting

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Dick Adams wrote:

- quote -

Long Term Capital Gain.

--
Alan
http://taxtopics.net

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I realize John Hancock went from being a mutual company
to being a stock company some years ago. My check for
$711 came from the State of Illinois because Hancock had
a 28 year old address.

Is this "Other Income" or is there a special treatment
for it?

Dick

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