I received my information from Ernst and Company. They act as my brokeage clearing house and this information was forwarded to them from Summit Technology in letter form dated January 28, 1998. If you have a fax line, I'll fax you the letter. However, I am not the least bit concern as I have a lot of knowledge in this area. If you feel the need to report that you received a return of capital, just report it (there's no tax consequences). However, in my past experience, this is not a requirement. I do know a capital gain distribution whether taxable or not needs to be reported. However, this is not the case with the LCAV shares.
Additionally, Ernst and Company never fail to make mention that this or that transaction will be reported to the IRS. However, with their little card that they always enclose with their correspondence, they make no mention of reporting this transaction to IRS. If you want a copy of the letter, make it quick, Im leaving in 15 minutes for Easter Dinner...Pappy |
