Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Colin Cody who wrote (938)	4/5/1998 10:29:00 AM
From: Double Dipper	Read Replies (1) of 5810

To anyone with an answer: TAX Question regarding share conversion: If I owned shares of ABCD for say 5 months and they were converted to XYZ shares due to a merger, are share purchases considered to be 5 months old? For those who really plan to be long, we need 18 months under the new IRS rules to be considered long for tax advantage purposes. It seems like the original ABCD purchase date would be the basis for the XYZ shares for tax purposes, but I don't know that for fact. Can anyone with a better understanding speak to this issue? Kevin

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