I've (sucessfully) played the arbitrage between JDSU and SDLI. When the spread was 20%, I went long SDLI and short JDSU.Now the deal is finally closing, the SDLI shres will be converted into JDSU, and I'll end up with (say) 1000 short and 1200 long JDSU shares. I called the broker, they will simply net them out between the short and the margin account, leaving me with 200 shares of JDSU. I have a "gain" on the JDSU short and a (smaller) "loss" on the SDLI long shares.My question: Is this a taxable event? There is no stock market transaction involved here, just a transfer between 2 of my own accounts.Thanks in advanceWerner
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