Inversion Tax

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Anonymous

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Thats right big boys, get ready to report all that realized gain on your tax forms this year. You sold all of your US stock and bought Irish stock so the IRS counts all profits as a gain even if you never took a cent. Don't report and you get hit with tax and penalty when they audit you.
 






Anonymous said:
Thats right big boys, get ready to report all that realized gain on your tax forms this year. You sold all of your US stock and bought Irish stock so the IRS counts all profits as a gain even if you never took a cent. Don't report and you get hit with tax and penalty when they audit you.
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You will get a 1099 form. This also goes to IRS. There will be cap gains on the old. Figure 20% tax on this.
You will have a new cost basis for new stock.
 






You will not get a 1099. This is not a Company transaction it is a personal stock sale. Your cost basis will reset for when you sell in the future, but that is of little use to you when the current tax is due. Any shares vested or bought in the last year will be taxed at your earned income rate not long term capital gains. If you sell the new stock to pay for the tax that sell will be short term gains because you will have sold the NEW stock. Some of you will have a huge bill to pay in April and if you don't realize you need to pay because you did not think you sold stock you will be hit with a penalty later. Just a FYI
 






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