Cedar Fair partnership units holders received 1 share of common stock in the surviving corporation for each owned partnership unit.  The adjusted tax basis of the Cedar Fair partnership unit would be the tax basis for the new corporation stock.  But is the merger really nontaxable?  The 2024 Supplemental Merger Information for the K-1 indicates the fair market value of the partnership unit on date of close, the estimated tax bases of the unit owner, excess business expense carry over, and unrealized receivables.