04-23-2008, 01:38 AM
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 Re: Would this distribution be taxable or non-taxable? On Apr 22, 10:40*am, 0b3hks...[at]sneakemail.com wrote: - quote - > A corporation is "reducing the nominal value of the registered shares
It sounds like a return of capital to me, but I could be wrong. Did> by $0.48 per share; and use the nominal value reduction amount for > repayment to the shareholders". > Would this distribution be non-taxable (i.e. reduction of basis)? *Or > taxable? *If taxable, would it be a dividend or capital gains > distributions? you ask management whether it is a return of capital, dividend, or capital gain? -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
04-22-2008, 05:40 PM
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| Would this distribution be taxable or non-taxable? A corporation is "reducing the nominal value of the registered shares by $0.48 per share; and use the nominal value reduction amount for repayment to the shareholders". Would this distribution be non-taxable (i.e. reduction of basis)? Or taxable? If taxable, would it be a dividend or capital gains distributions? TIA -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
| Tags |
| distribution, nontaxable, taxable |
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