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bought shares of cendant and received shares of realogy and wyndham worldwide during a spinoff that cendant said was tax free of federal taxes, is that true?

2007-04-08 14:10:40 · 3 answers · asked by trungkla 1 in Business & Finance Taxes Other - Taxes

3 answers

it is true. But whenever you sell them, then you will have to pay taxes. Your basis is zero for now. eg, you sell then for 100, then 100 - 0 = $100 that you will pay capital gains rate on them.

2007-04-12 12:05:38 · answer #1 · answered by emulwa 2 · 0 0

You won't pay any tax on receiving the shares, but when you sell them your basis will be zero so you'll pay capital gains tax then.

2007-04-09 05:11:42 · answer #2 · answered by Judy 7 · 0 1

tax free until you sell them

2007-04-08 16:03:34 · answer #3 · answered by Jo Blo 6 · 1 0

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