Replies to post #490646 on Mr Cooper Group Inc (COOP)

[clawmann]

AZ you claimed that WMIH's NOLs are gone. Now, caught making an obviously errant statement, you are pretending to have asserted something else, which btw is also wrong.

[bond-007]

IC what your saying!

[JusticeWillWin]

You are confusing things here. The abandonment of WMB stock was a capital loss (CL), which could have been offset only by capital gains in the year the losses occurred, or IMO carried forward only 5 years. They asked the IRS, and they allowed to treat the loss as ordinary loss (OL), which can be carried forward as NOLs for about 30 years.

We have to be happy that it was treated as OL and NOT as CL!

Totally wrong...

~ Simply Separate the Issues' ~

... As I said back in 2013' ... a Capital Loss IS NOT an NOL' ...

WMIH-Corp as the reorganized Washington Mutual, Inc. ... still has the availability of a Capital Loss Tax Advantage' ... within the IRS guidelines' ... timing issues were extended due to the Stay placed on the continuing litigation, ... now "Settled"

WMIH-Corp as the reorganized Washington Mutual, Inc. ... NO LONGER has the ability to claim NET OPERATING LOSS (NOL's) Tax advantages associated with the banking sub, WMB' ... now that WMB has transitioned to JPMC with the completion of the P&A Agreement' ...

AZ

[rwdutch]

I remember this conversation on BP with sarge and AZ , sarge provided a 600 ph. Link where on page 243 the conversation in court describes exactly what AZ is saying... my 2 cents