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Lorenzo2 said: Nothing else to do until you sell this puppy, and then you get to try to figure out what your basis is.

And pmarti replied: I hate to disagree with such otherwise sage advice, but IMO the time to do the basis adjustment is now, while the information is at hand.

Ok, I was being cute. And pmarti is correct, of course - indeed, you ought to have done the basis calculation when the spinoff occurred last year. Actually, there probably isn't a basis calculation, since this was a one-for-one exchange of shares. Your basis in LM will be the same as your basis in LM-tracking. But my point was that from a tax angle, all you have to do this year is send in that distribution form. Nothing else (well, maybe dividends - don't know if LM pays any) until you finally sell.

BTW, I originally said ...nothing else to do until you sell this dog - but changed it when I realized that some out there might feel that I was making an editorial comment about the quality of a stock you own.
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