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Financial Planning / Tax Strategies


Subject:  Stock buyout Date:  2/2/1999  9:31 PM
Author:  wrndln Number:  9419 of 127753

I tried to see if there was any information on stock buyouts in the FAQ but I couldn't find any so I will ask my question.

In January of 1998 I bought 300 shares of GNT at $25 per share. GNT was bought out by CNC in July and the shares were converted to 274 shares of CNC (I can't remember the exact share price). However, there was $47.38 left over which was placed as cash in my account. How is this "residue" money treated for tax purposes?


Rusty Nelson
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