Our club is interested in buying Seadrill (SDRL) which is
headquartered in Bermuda. Will this be a tax problem later?
Also, the word Limited in the name makes me wonder if it is
a partnership although I can not find that word
(partnership) on their website or Yahoo finance summary,
profile, etc.
Laurie Frederiksen on
Hi Charla,
SDRL will not cause you problems in bivio. LTD is not the same thing as a partnership.
The issue with foreign companies like this happens if they go through some sort of reorganization such as a merger. They don't have to comply with our rules for reporting the tax consequences of their mergers so it is sometimes difficult to find out how your records need to be adjusted. This can cause a delay getting information updated for you and difficulty keeping things in agreement with your broker. (Since they also can have difficulty updating cost basis correctly).
Laurie Frederiksen Invest with your friends! www.bivio.com
On Thu, Feb 19, 2015 at 10:52 AM, Charla Hurt wrote:
Our club is interested in buying Seadrill (SDRL) which is
headquartered in Bermuda. Will this be a tax problem later?
Also, the word Limited in the name makes me wonder if it is
a partnership although I can not find that word
(partnership) on their website or Yahoo finance summary,
profile, etc.