Message Font: Serif | Sans-Serif
No. of Recommendations: 0
We covered this issue in Intermediate Accounting, but that was too many years ago:

I had 5 shares of ICN Pharmaceuticals, purchased in 1974 and filed away, forgotten. Cleaning out the files recently, I stumbled over them, said a few choice words, and shipped them off to my broker to be put into my trading account.

Somewhere along the line, ICN reorganized/merged and a new issue of stock replaced what I had. I now have 3 shares of "new" ICN and $17.65 cash.

If I remember right, my basis for the 3 shares is original cost - $17.65, and the reference date is the date of original purchase.!!!
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.