Donna1
Level 4
12-07-2019
04:40 AM
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I have a client that received cash and stock in the Express Scripts Cigna Merger. She called Charles Schwab to find the cost basis for the cash received for the 68 shares of Express Scripts and was told the basis is zero because it was a 368A Cash Merger. Would this be a true statement "the basis is zero"? If this is a true statement, I assume the gain she reports and pays tax on becomes part of the basis for the shares of Cigna stock she received?
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abctax55
Level 15
12-07-2019
04:40 AM
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Perhaps this recent thread on the topic will help:
HumanKind... Be Both
Donna1
Level 4
12-07-2019
04:41 AM
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I read this thread. I am not looking for the cost basis of the Cigna Stock. I am looking for a basis for the cash that was received for the Express Scripts that she received. She still has the Cigna stock.
Donna1
Level 4
12-07-2019
04:41 AM
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Maybe I didn't read the thread closely enough. But it sounds like I need know what the original cost basis was of the Express Scripts to perform the calculation that is in the thread?
