Buy out/Merger of two companies
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Posted by Willis Dillon on January 17, 2007 at 17:03:10:
I don't know if I recorded the recent buyout of BellSouth by AT&T in my portfolio correctly or not. I own both of them.
I treated the buyout of BellSouth's total value as a return of Capital. I then took the value received and used it for the total purchase value of the new AT&T shares.
Other than the cash for partial share of AT&T, I think this should then be regarded by FM as a non-taxable event.
I didn't see any other way to handle it--If there is please advise.
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