@dj1016 -- That's an important caveat. What I've described will still get you through TT, but next year 'oldco', and its suspended losses, should just be deleted. As for what basis you should give your shares in 'newco', I'd look to them for guidance. There are a number of ways these deals get structured, and I'm not sure what the formula for figuring your basis should be. If 'newco' can't help, then I'd look to an actual tax preparer to give you a defensible position for the basis you choose.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
