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Today 1/11/09 I received full payment for my shares of NFS by check dated 1/08/09.
Included was a single page of FAQ about the payment. Item #5 "How do I compute my cost basis for tax purposes?" The reply says that ..."if you received shares of NFS in connection with the Provident Mutual demutualization, the cost basis is unclear" It refers to a recent Court of Federal Claims ruling [Aug 2008] Fisher v. United States which disargees with the IRS position that the cost basis is zero. The IRS has appealed the Court of Federal Claims ruling and at this time it is unknown how this issue will ultimately be decided. Pay attention to this issue regarding tax basis of your payout. Rating :
 (1 Rating) |
72/Male |
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