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Computershare UCH Shares
MEC Blastmail yesterday had a lot of subjects. As I scrolled, I saw a paragraph on Computershare. Caught my interest.
I'll admit to being largely in the dark about these shares. When I got them, I thought they were relatively worthless shares allocated in Chapter 11; worth pennies on the previous ESOP dollars. Well, I was surprised to find there was a decent-sized chunk of money there....and that it's based on current stock price. Here's my question: is there a way to roll this into the PRAP without a tax penalty, or if sold, does it merely become regular income or Capital Gain? I'm suspecting the latter, but figured others have gone down this path before. |
Originally Posted by UAL T38 Phlyer
(Post 2268324)
MEC Blastmail yesterday had a lot of subjects. As I scrolled, I saw a paragraph on Computershare. Caught my interest.
I'll admit to being largely in the dark about these shares. When I got them, I thought they were relatively worthless shares allocated in Chapter 11; worth pennies on the previous ESOP dollars. Well, I was surprised to find there was a decent-sized chunk of money there....and that it's based on current stock price. Here's my question: is there a way to roll this into the PRAP without a tax penalty, or if sold, does it merely become regular income or Capital Gain? I'm suspecting the latter, but figured others have gone down this path before. You'll get taxed as a long-term capital gain on the appreciation. |
Thanks....I'm assuming the basis is the listed priced at each of the 4-5 tranches they gave us.
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Originally Posted by UAL T38 Phlyer
(Post 2268324)
MEC Blastmail yesterday had a lot of subjects. As I scrolled, I saw a paragraph on Computershare. Caught my interest.
I'll admit to being largely in the dark about these shares. When I got them, I thought they were relatively worthless shares allocated in Chapter 11; worth pennies on the previous ESOP dollars. Well, I was surprised to find there was a decent-sized chunk of money there....and that it's based on current stock price. Here's my question: is there a way to roll this into the PRAP without a tax penalty, or if sold, does it merely become regular income or Capital Gain? I'm suspecting the latter, but figured others have gone down this path before. Donate them to your church or favorite charity. You get the full value of the shares on the day you donate them for taxes, while the charity or church pays no taxes on them at all, if they sell they immediately. Win - Win |
Originally Posted by UAL T38 Phlyer
(Post 2268359)
Thanks....I'm assuming the basis is the listed priced at each of the 4-5 tranches they gave us.
(Sold mine a while back so I don't remember the specifics on where Compushare listed the cost basis.) |
I decided to sell, and it shows the basis when you set it up...
Your info very helpful. Thanks! |
Originally Posted by UAL T38 Phlyer
(Post 2268425)
I decided to sell, and it shows the basis when you set it up...
Your info very helpful. Thanks! 2/10/06 2nd Distribution $35.51 5/3/06 3rd Distribution $27.52 9/22/06 4th Distribution $42.05 4/27/07 5th Distribution $46.09 11/8/07 These are the dates and cost basis for the tranches to Computershare Many people have failed to include in their year end tax returns and get nasty IRS letters assuming zero cost basis. |
There was a way to roll it into an IRA after the fact and re-file past years taxes to recoup the income taxes you paid on a percentage of both the stock and bond monies. But that ship has sailed.
http://hr.cch.com/news/pension/030512a.asp |
Originally Posted by jsled
(Post 2268745)
There was a way to roll it into an IRA after the fact and re-file past years taxes to recoup the income taxes you paid on a percentage of both the stock and bond monies. But that ship has sailed.
FAA funding law permits rollover of amounts received in airline carrier bankruptcy - 03/5/12 Joe |
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