On or about the time of the Kyndryl spin-off from IBM, Investor Relations at Kyndryl issued the below statement explaining how IBM shareholders could determine their basis in IBM shares. There will likely be no form that you will receive explaining to you the basis of your IBM shares.
"One possible approach is to utilize the New York Stock Exchange closing price on November 4, 2021 (the first trading day immediately after the Distribution), for IBM common stock ($120.85 per share) and for Kyndryl common stock ($26.38 per share) as the fair market value. At a distribution rate of 1:5, the weighted value of the distribution would be $5.28 ($26.38 / 5) worth of Kyndryl stock for every share of IBM stock. Therefore, you would allocate 4.18% ($5.28 / ($120.85 + $5.28)) of your tax basis in your IBM shares immediately prior to the Distribution to the Kyndryl shares received in the distribution and allocate 95.82% ($120.85 / ($120.85 + $5.28)) of your tax basis to your IBM shares. As this is just one of many approaches, you should consult with your own tax advisor to assess appropriate methodologies in this regard."
Because you received a partial share, and based on the above example, you could substitute the value of your partial share ($16.47) for the Kyndryl share price of $26.38, which is the share price (for one full share) of Kyndryl in the above example.
Below is the link to the Kyndryl Investor Relations spin-off information which you might find helpful.
Spin-Off Information
@cooger
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