Your cost basis is not the price of the stock when it was spun off. It's a portion of your cost basis in the parent company that AT&T allocated to the spin off. No one likes to pay taxes and penalties so you probably should consider some other options including transferring the money to a 529 for a qualifying relative. Or you could just leave the money in the account in case your son decides to change his mind later on.
Which one is Fed Chief Jay Powell weighing more in advance of Wednesday afternoon's announcement about interest rates?
(0:20) Bill Mann discusses: - The current state of play in the banking industry - Risks of trouble spreading to other industries - What Jay Powell is (probably) focusing on as he weighs the next decision around interest rates
(10:37) Alison Southwick and Robert Brokamp answer your questions about asset allocation, company spin-offs, and bond ETFs.
Companies discussed: UBS, CS, WBD
Host: Chris Hill Guests: Bill Mann, Robert Brokamp, Alison Southwick Producer: Ricky Mulvey Engineers: Dan Boyd, Rick Engdahl
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