I have owned texaco since for 28 years (10 shares gifted at birth) As a result of their resent merger with Chevron, i recieved .77 shares of the new corporation for each share of Texaco i held. Partial shares were not distributed with the merger, as a result, i got about 60 bucks back in November for the partial shares left over from the merger. I received a 1099-B for this money. Where to i report this money on my taxes. Is this taxed as income from dividends or as a capital gain on the sale of shares. If the latter is true, how to i calculate the cost basis?Any help would be appreciated.KB
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