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Anyone else dealing with DWDP splits and spinoffs?
Posted on 3/7/20 at 11:13 am
Posted on 3/7/20 at 11:13 am
Recap - Dow Chemical and Dupont merged in early 2017 IIRC, then spun off "Dow Inc" and "Corteva" (ag science). DWDP then reverted to DD (Dupont) after a reverse split.
I'm trying to figure out the correct cost basis to use for shares I received pre-split/spin but sold post-split/spin.
My 1099-B isn't much help, and I just want to justify to the IRS that I did lose as much money as I think I did.
TIA.
PS - This exercise has reinforced my belief that while mathematics is a pure and beautiful science, accounting is nothing more than equal parts arithmetic and bullshite.
I'm trying to figure out the correct cost basis to use for shares I received pre-split/spin but sold post-split/spin.
My 1099-B isn't much help, and I just want to justify to the IRS that I did lose as much money as I think I did.
TIA.
PS - This exercise has reinforced my belief that while mathematics is a pure and beautiful science, accounting is nothing more than equal parts arithmetic and bullshite.
1
Posted on 3/7/20 at 11:55 am to Unobtanium
quote:
accounting is nothing more than equal parts arithmetic and bullshite.
Accounting, specifically double entry accounting, is a beautiful thing once you understand it. Everything balances.
Sounds like your gripe is with Congress and the tax laws.
Posted on 3/7/20 at 12:17 pm to jclem11
No, my main gripe is with the creative accountants and tax attorneys at Dow and Dupont.
Having worked at one of these companies, I saw a lot of 'deals' that were nothing of the sort. Some cost the company treble damages after a judge tore us a new one.
"Too clever by half" is the phrase that fits.
And, no offense, but my opinion of accounting stands. Perhaps I should refine it to say "corporate accountants and their ilk."
Having worked at one of these companies, I saw a lot of 'deals' that were nothing of the sort. Some cost the company treble damages after a judge tore us a new one.
"Too clever by half" is the phrase that fits.
And, no offense, but my opinion of accounting stands. Perhaps I should refine it to say "corporate accountants and their ilk."
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