Portage Biotech Inc. (PRTG)

[mauiguy2]

Tex, unfortunately, I think you/we are wrong about this. Ugh!

I have just started my tax preparation for my meeting with my tax guy next Monday. I took a closer look at my 1099 statement that I received from TD Ameritrade.

It appears that the entire amount of the BHVN dividend is taxable. This amount will all be added to your total income as a "Qualified Dividend". So, basically, the number of distribution shares of BHVN you received will be multiplied by approximately $27. This figure will be your taxable portion of the distribution

So, of course, any sales of BHVN will be taxed at the difference between $27/share and for what you sold it. So, if you sold it now at $44/share, your taxable gain would be the # of shares you sold x 17 (44 minus 27). But, you would also be paying taxes on the original dividend.

Long story short, it appears that all your BHVN shares are taxable......the 2018 dividend now and the profit on the shares above $27/share when sold.

If you can punch some holes in what I've written, please do. But, the TDA 1099 makes it pretty explicit.....the BHVN distribution is all taxable.

If I’m not mistaken, you’ll only be taxed on gains above your basis. When I got my bhvn shares, my basis was 27 bucks/share or something close. Your broker should be able to provide your basis for you if it isn’t shown on your portfolio interface.