Quite a few years ago, I had been holding stock in ZDNet (ZDZ) and that was acquired by CNet in October of 2000 (10/17). For each share of ZDZ, I received 0.5932 shares of CNet stock.This year I sold the CNet stock. If I am correct, I believe I would report the basis as the original purchase of ZDZ. As an example, consider the following:Bought 50 ZDZ @ $10.00 = $500.00Merger 50 ZDZ become 29 CNETSold 29 CNET @ $5.00 = $145.00Transaction results in loss of $355.00, is that correct? Or do I use the price from 10/17/2000 when my ZDZ became CNET stock?Beats me. This is why we constantly harp about doing basis adjustments at the time of the split/merger/spinoff, not years down the road when you sell. The answer to your question lies in the paperwork you got in 2000. If you can't find it, maybe investor relations could tell you or you could try the CNet board here.It could be worse. Any day now we should get our annual post from someone whose grandparents gave him a share of AT&T 60 years ago.Phil
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra