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To: Bruce A. Bowman who wrote (4751)	5/21/1998 6:58:00 PM
From: Gary	Read Replies (2) of 18928

Bruce You are correct. You have to pay stock on the dividend even though it is reinvested rather than received in cash under the "constructive receipt" rules. You could have taken the cash at your option. The dividend invested under the drip plan gets added to the stocks basis. I have used the Newport program for about six weeks for five different funds that have drifted sideways. The only good part, so far, is that I generated the cash portion of the program from the funds before starting so I am a lot less exposed at this time which is probably good. Plan to start a few stocks after the summer when I get some cash in the form of a bonus. Really enjoy the thread. Both educational, interesting and amusing. Gary

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