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Step 4. Other Stock Issues
This is Step 4 of our Stock Recovery process. There is a link to the next step at the end of this page. If you haven't gone through the previous steps, start here: Employee Stock
(Updated Feb 14, 2020.) Questions or comments to: email@example.com
This topic is covered in the HPAA's Finance Forum. Discuss U.S. pension, employee stock, Social Security, and other personal finance issues from an ex-HP/HPInc/HPE perspective. Moderated. Join the HPAA Finance Forum
Stock plan administrators and stock brokerages vary (sometimes dramatically) in how they make gain/loss and cost basis calculations and in what they report to the IRS. Each of the 236 NYSE member firms (and others around the world) is expected to read SEC filings, analyze corporate actions, and update the records they maintain on behalf of their clients.
4a. Potential Micro Focus / "Seattle SpinCo" U.S. tax liability on 2017 return. If you owned HPQ stock on Oct 21, 2015, you automatically received stock in the new Hewlett Packard Enterprise company (HPE.) If you owned HPE stock on Sept 1, 2017, you automatically received "Seattle SpinCo" stock -- which was immediately merged into Micro Focus. U.S. shareholders received "American Depositary Shares" in Micro Focus traded as "MFGP." Due to unique circumstances, this transaction was potentially taxable for U.S. shareholders -- even if no Micro Focus stock had been sold. Some brokers and administrators apparently interpreted the transaction differently -- or did not report, or reported incorrectly -- to the IRS. Details: 4a. Potential Micro Focus "Seattle SpinCo" 2017 U.S. tax liability
Issues with specific administrators and brokers:
If you have HP-related stock at any of these companies, check for HP-related issues reported by HPAA members:
4b. Merrill Lynch. Merrill Lynch issues reported by members
4c. Morgan Stanley. Morgan Stanley issues reported by members
4d. Fidelity. Fidelity issues reported by members
Next: Step 5. Stock cost basis spreadsheets
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