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What would I do in this case?

First, I'd reread the info provided by the companies involved (which, BTW, you haven't mentioned). It is possible that, with the transaction behind them, they calculated up a percentage of your basis to apply to the spun-off stock.

Given the info you've provided, I think the 14th is the correct day to compare the FMV of the two newly separated stocks. But since one didn't trade for another two weeks, it's FMV is subject to some debate.

I'd just use your best estimate and move on. Unless this holding is very significant to your net worth, the differences between reasonable estimates of FMV are likely not material.

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