Replies to post #389675 on Mr Cooper Group Inc (COOP)

[fixedops]

Depends if you made any profit. You would only pay 15% on any profit made on what was held for 12mo or more. Start flipping and it will be 30% on any profits made under 12mo.

[Gmenfan]

If you made money the government will want their cut.

[camaro4me]

if you made a prifit you woulf have to pat long term capital gains

[clawmann]

Depends on how much you paid for the old shares that were converted into WMIH. Right now, I think in all probability you have a long-term loss.

The basis (cost) of your old shares should be carried over and distributed evenly among the new shares you received in exchange. If your basis is lower than your the price you get for your WMIH shares, you will have a long term taxable gain. If not, you have a long term loss.

I had to explain this to my broker, who in my original 1099 for 2012 had mistakenly treated my old shares as being sold for zero (generating a 2012 loss), and my new shares as having cost me nothing. They corrected the 1099 after I pointed out the error.