If you are a significant distributee (who immediately before the distribution owned 5% or more FRPH common stock or owned FRPH securities with an aggregate tax basis of $1 million or more) who received PATI common stock in the distribution, you are required to include a statement in your U.S. federal tax return for the year of distribution. Any shareholder in this position should consult their tax advisor regarding the statement that is required pursuant to Section 1.355-5(b). View sample statement by clicking here.
|