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I have what I hope is a quick and easy question. I bought a stock (FFTI) back in 12/99 that was acquired by NCR back in 10/00. Instead of NCR stocks, I was given cash in the amount of 18-1/2 a share on the stock that I bought at 13/shr. Since I realized a profit on this, I'm assuming it's a capital gain. But since it wasn't my intention to sell before having held the stock for a full year and I didn't actually initiate a sell, is this still considered a short-term gain?

Probably. Check your buyout paperwork to be sure, but it sounds like a fully taxable transaction. There's no special provision for intentions.

TMF ExRO
Phil Marti
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