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Posted by Benjamin Yazersky CPA on April 30, 2007, 11:41 am
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> I just received a distribution payment from the Fair Fund
> established by the Securities and Exchange Commission
> established to compensate investors injured by market timing
> in Pilgrim Baxter (PBHG) funds during June 1998 to Dec 2001.
>
> Does anyone know how to handle taxes on this payment?
>
> I have long since sold all my PBHG funds. At most, I would
> expect this payment to be equivalent to a long term capital
> gain as it would have lowered the basis in the funds when I
> did sell them.
>
> I have no idea what tax schedule I should use to report this
> payment.
>
> There is some tax info at www.pbafairfundsettlements.com
> that implies that if one still owed the mutual fund, one
> could lower the basis by the amount of the settlement. But
> there is no info on what to do if the fund had already been
> sold. Also, I got several checks as I owned several funds,
> but no indication which check when with which fund.
Most likely it will be reported on sch d, probably as a long
term capital gain.
___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] >>>
-----> real address on hobokeni or hobokenx <-----
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