The receipt of Pfizer common stock and cash in exchange for Wyeth stock in the merger generally will be a taxable transaction for U.S. federal income tax purposes. A U.S. holder of Wyeth stock who receives Pfizer common stock and cash in the merger generally will recognize capital gain or loss equal to the difference, if any, between (1) the sum of the fair market value of Pfizer common stock and cash, including any cash received in lieu of fractional shares of Pfizer common stock and (2) such holder’s adjusted tax basis in its Wyeth stock exchanged therefor. Gain or loss and holding period will be determined separately for each block of Wyeth stock, i.e. , shares acquired at the same cost in a single transaction, exchanged in the merger. Any capital gain or loss will be long-term capital gain or loss if the U.S. holder’s holding period for its Wyeth stock is more than one year at the time of the merger. Currently, long-term capital gain for non-corporate taxpayers is taxed at a maximum federal income tax rate of 15%. If the U.S. holder has held its Wyeth stock for one year or less at the time of the merger, any capital gain or loss will be short-term capital gain or loss. The deductibility of capital losses is subject to certain limitations. A U.S. holder’s aggregate tax basis in its Pfizer common stock received in the merger will equal the fair market value of such stock at the effective time of the merger, and the holder’s holding period for such stock will begin on the day after the merger.
No - it will be 15% of the total value you recieved (including the pfize shares) at merger MINUS the basis for the Wyeth stock (this is generally the price that somebody had paid to buy the stock in the past. I am not sure what our basis would be.)
I just talked with Mom and Dad, they are at a hotel on St.Steven's green in Dublin, on their way to the Sherbourne Hotel (remember the fancy bar where the couple was making out?) for dinner and then to the theatre for "CABARET"...they had just finished a bus tour of Dublin, tomorrow they will see Derek Warfield perform...they're having fun!
sorry we missed Bob's party, but we had a great weekend... Friday night at Jim and Erin's (great food and wine) Saturday at Notre Dame with Ed and Phelan (great game exceept we lost!) Picked up Joe4 and headed for Chicago, great food at Ed's, where we all spend the night Sunday headed home, picked up Betty near Dubuque, dropped off Joe4 and Betty at Joe's and had another great meal...it was fun!
Gaaaa...moving offices (again!) this time from the garage to the rectory basement. Actually it will be kind of fun to be back where the action is, but still downstairs in my own little cave so I can hide out if I want to. Might have to get some full-spectrum flourescents though to keep me feeling happy. Anyway, my back hurts. 3 big shelves of books and files, not to mention a thousand little pieces of junk. I need more plastic bins and totes.
Actually my biggest gripe right now is that my mouse won't reach to the right side of where I want my computer (easily fixed) but for now I'm mousing lefty. Slow going.
Sick kid again... this time Mary. She wept for about 2 hours in the middle of the night! If sick means weepy for a child at 8, what kind of adolescent will she be?
bacause of this...have you seen the ad for this Fisher Price toy...hooked up to the TV, the child gets on a stationary bike and pedals, the faster he or she goes the faster the screen images go, plus they can do something with the hand grips...JUST GO OUTSIDE!!!
The priest from Glenwood (20 miles south of here) is in the hospital in CB in a medically-induced coma suffering from a huge staph infection after a fairly simple surgery. Anyway, they've been swamped by calls from anxious parishioners and ex-parishioners, of course, as well as some media people asking how he's doing, etc. The hospital staff can give out very little information because of privacy laws, but the other night they had a woman on the phone who was very insistent and kept asking for details and the floor nurse asked her if she was a relative and she said, "Well yes, I'm his wife!"
so ED and I picked Granny and Grandpa from the international terminal of ORD yesterday around 5 which would have been like 11 Dooblin time. They had many interesting stories from having such a well planned and packed itinerary. Though it was late and they had travelled so much, they still wanted to take Ed and I to dinner so we went to Little Italy where we had a delicious welcome home dinner. I had jumbo scallops. Then we went to Ed's where he hooked Grandpa's camera up to an movie theater monitor and we looked at some big pics. It was fun. They didn't end up turning in until about 3 AM irish time! -phe
Have a Fun Day!
37 comments:
Happy Birthday Betty! Look, you got your brother home for your present!
p
Happy Birthday Betty! Have a great day. Enjoy a cream puff.
Monica
Happy Birthday, Betty.
What did you do for your birthday Betty?
Happy Birthday Betty! You've got a million dollar smile. Have fun.
Anybody have any idea on how to work out the "gain" for the Wyeth stock for tax purposes?
I was worried about that too, Ed.
p
HAPPY BIRTHDAY BETTY! HOPE YOU HAD FUN AT MONTICELLO! YOUR BIRTHDAY IS THE FEAST DAY OF ST. LUKE THE GENTILE!!!!OXOXOXOXOXOX-phelan
From the Pfizer website:
The receipt of Pfizer common stock and cash in exchange for Wyeth stock in the merger generally will be a taxable transaction for U.S. federal income tax purposes. A U.S. holder of Wyeth stock who receives Pfizer common stock and cash in the merger generally will recognize capital gain or loss equal to the difference, if any, between (1) the sum of the fair market value of Pfizer common stock and cash, including any cash received in lieu of fractional shares of Pfizer common stock and (2) such holder’s adjusted tax basis in its Wyeth stock exchanged therefor. Gain or loss and holding period will be determined separately for each block of Wyeth stock, i.e. , shares acquired at the same cost in a single transaction, exchanged in the merger. Any capital gain or loss will be long-term capital gain or loss if the U.S. holder’s holding period for its Wyeth stock is more than one year at the time of the merger. Currently, long-term capital gain for non-corporate taxpayers is taxed at a maximum federal income tax rate of 15%. If the U.S. holder has held its Wyeth stock for one year or less at the time of the merger, any capital gain or loss will be short-term capital gain or loss. The deductibility of capital losses is subject to certain limitations. A U.S. holder’s aggregate tax basis in its Pfizer common stock received in the merger will equal the fair market value of such stock at the effective time of the merger, and the holder’s holding period for such stock will begin on the day after the merger.
So it is basically as if we sold all of the Wyeth shares and bought new shares Pfizer.
So, we'll have to pay 15% tax on any cash we receive?
No - it will be 15% of the total value you recieved (including the pfize shares) at merger MINUS the basis for the Wyeth stock (this is generally the price that somebody had paid to buy the stock in the past. I am not sure what our basis would be.)
Happy Birthday Miss Betty!
I hope you liked the present I gave you..hehe
I just talked with Mom and Dad, they are at a hotel on St.Steven's green in Dublin, on their way to the Sherbourne Hotel (remember the fancy bar where the couple was making out?) for dinner and then to the theatre for "CABARET"...they had just finished a bus tour of Dublin, tomorrow they will see Derek Warfield perform...they're having fun!
sorry we missed Bob's party, but we had a great weekend...
Friday night at Jim and Erin's (great food and wine)
Saturday at Notre Dame with Ed and Phelan (great game exceept we lost!)
Picked up Joe4 and headed for Chicago, great food at Ed's, where we all spend the night
Sunday headed home, picked up Betty near Dubuque, dropped off Joe4 and Betty at Joe's and had another great meal...it was fun!
Happy Birthday, Betty!
Gaaaa...moving offices (again!) this time from the garage to the rectory basement. Actually it will be kind of fun to be back where the action is, but still downstairs in my own little cave so I can hide out if I want to. Might have to get some full-spectrum flourescents though to keep me feeling happy. Anyway, my back hurts. 3 big shelves of books and files, not to mention a thousand little pieces of junk. I need more plastic bins and totes.
Ohhh Cathy,
I would die in a basement. I need windows.
Monica
Here's a page on the Pfizer site that tells a lot about how the Wyeth shares will be paid for, etc. It still doesn't tell WHEN though.
http://media.pfizer.com/files/investors/shareholder/Pfizer_Wyeth_FAQ.pdf
Actually my biggest gripe right now is that my mouse won't reach to the right side of where I want my computer (easily fixed) but for now I'm mousing lefty. Slow going.
Is it now a "church mouse"?
Well, right now it's a #@&%*$#&! mouse.
They had to shut down a shcool in St. Charles, IL this week because over 900 students called in sick.
How did our kids get so unhealthy?
Happy birthday, Betty!
You look great!
Lisa
randy
emma
mary
Sick kid again... this time Mary. She wept for about 2 hours in the middle of the night! If sick means weepy for a child at 8, what kind of adolescent will she be?
lisa
bacause of this...have you seen the ad for this Fisher Price toy...hooked up to the TV, the child gets on a stationary bike and pedals, the faster he or she goes the faster the screen images go, plus they can do something with the hand grips...JUST GO OUTSIDE!!!
Watched Slumdog Millionaire last night. It was surprisingly good. And I loved the Bollywood extravaganza dance thing at the end.
Are Mom and Dad flying in today?
So, do you think we should legalize marijuana?
Yes.
Yes.
And yes, Mom and Dad are flying in today to O'Hare at 4:30.
The priest from Glenwood (20 miles south of here) is in the hospital in CB in a medically-induced coma suffering from a huge staph infection after a fairly simple surgery. Anyway, they've been swamped by calls from anxious parishioners and ex-parishioners, of course, as well as some media people asking how he's doing, etc. The hospital staff can give out very little information because of privacy laws, but the other night they had a woman on the phone who was very insistent and kept asking for details and the floor nurse asked her if she was a relative and she said, "Well yes, I'm his wife!"
Sean runs districts today. It's a tough, hilly course. Joe thinks he may have stress fractures.
Monica
Go Sean!! Gump their butts!!!
I meant Sean has stress fractures. Not Joe. Joe just has a fracture soul.
Monica
Good luck Sean!!! And Joe, we'll remember your soul in our prayers tonight.
Go Seaner Go!!!
so ED and I picked Granny and Grandpa from the international terminal of ORD yesterday around 5 which would have been like 11 Dooblin time. They had many interesting stories from having such a well planned and packed itinerary. Though it was late and they had travelled so much, they still wanted to take Ed and I to dinner so we went to Little Italy where we had a delicious welcome home dinner. I had jumbo scallops. Then we went to Ed's where he hooked Grandpa's camera up to an movie theater monitor and we looked at some big pics. It was fun. They didn't end up turning in until about 3 AM irish time! -phe
Mom and Dad have amazing energy!
How did Sean do?
how do his legs feel today?
Lisa
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