there is some court precedent for the value on the day the shares are issued but irs disagrees and says it is zero
anyone dealt with this??...how did you report???
thanks & regards
bob
Best Answer Click here
I've been using zero since IRS pronounced that.
Although it has been many years since I've actually done it.
I explained the difference of opinion to my clients and let them decide.
View solution in original post
Thank you
regards
UNUM Life Insurance did this in Maine several years ago. I used 0 for cost basis.
