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Payment from Tyco under class action lawsuit
We received a payment from Tyco under the class action
lawsuit. How do I record this money in our accounting.

I'm thinking, Long term capital gain, under Tyco (Although
we sold it in 2003). However, isit under:
"Long term capital gain", "Long term Capitl gain, Post 5
03"; or "Qualified 5-year capital gain?"

Or none or these and under something else?

Also, if I use the L-T Capital Gain ... then what date do I
use for the ex-dividend date blank?

Thank you for your help.
Henri Russell
In a message dated 03/06/09 14:17:32 Eastern Standard Time, henriz@bivio.com writes:
We received a payment from Tyco under the class action
lawsuit.  How do I record this money in our accounting.

I'm thinking, Long term capital gain, under Tyco (Although
we sold it in 2003).  However, isit under:
"Long term capital gain", "Long term Capitl gain, Post 5
03"; or "Qualified 5-year capital gain?"
Long term capital gain post 5/03.
Or none or these and under something else?

Also, if I use the L-T Capital Gain ... then what date do I
use for the ex-dividend date blank?
There is no ex-dividend date for a long-term gain distribution.
 Thank you for your help.
Henri Russell
Ira Smilovitz 

Also, if I use the L-T Capital Gain ... then what date do I
use for the ex-dividend date blank?

There is no ex-dividend date for a long-term gain distribution.

Ira,

When I try to leave the ex-dividend date blank, I get an error message:

“The distribution type is not valid for the selected transaction date” (The transaction date is March 6, 2009 when we received the check)

When I tell the program to look up ex-dividend date … it fills in 12/31/2008 … but I still get the same error message.

Henri

 
Ira Smilovitz
 
 
 
In a message dated 03/08/09 14:53:28 Eastern Daylight Time, henri@rolandrussell.com writes:

Also, if I use the L-T Capital Gain ... then what date do I
use for the ex-dividend date blank?

There is no ex-dividend date for a long-term gain distribution.

Ira,

When I try to leave the ex-dividend date blank, I get an error message:

"The distribution type is not valid for the selected transaction date" (The transaction date is March 6, 2009 when we received the check)

When I tell the program to look up ex-dividend date ... it fills in 12/31/2008 ... but I still get the same error message.

Henri