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Max and jpsst,

Sorry to crash your party <g>.

Anyway, I just noticed that PJC showed up in my brokerage account. I am trying to determine what impact this spin-off has on my cost basis. Does anyone have any idea?

As near as I can figure it, this is a dividend. I think it means it doesn't impact my cost basis in USB. I also think it means my cost basis in PJC is $0.

Does anyone know if this is correct.

BTW, I had been thinking about selling off most of my USB, but now think it might be one of the better performing banks. They seem to have recovered from the impact of the various mergers it went through.

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