On 7/2/08, shareholders of Fidelity National Information Services Inc (stock symbol FIS) received one share of Lender Processing Services Inc (stock symbol LPS) for every two (2) shares of FIS owned. The spinoff was a non-taxable transaction (except for the cash paid in lieu of fractional shares.)
Using the closing trading price method, you can determine your cost basis in the shares of Lender Processing Services using the following percentage allocation applied to your original cost basis for Fidelity National Information Services stock:
Fidelity National Information Services, Inc. (FIS) 56.3% Lender Processing Services Inc (LPS) 43.7% Total 100.0%
Your holding period for Lender Processing Services shares begins as of the date of purchase of your FIS shares.
Use our handy spinoff calculator to compute your new cost basis and the gain or loss on any "cash in lieu" of fractional shares payment. Just click on the image of the spinner to the right and then select "Lender Processing Services" from the drop-down menu. Many fields will be pre-filled for you. Simply add your own cost basis information for Fidelity National Information Services.
Spinoff Calculator
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Information provided is intended solely for U.S. individual cash-basis taxpayers and is believed to be accurate for most cases. Always consult your personal tax advisor about your own situation. Suggestions are most welcome. Please e-mail webmaster @ costbasis.com or write to us at P O Box 11022, Chicago IL 60611 with your comments.
