I had 226 shares of Uniti Financial Corporation which I purchased in 2004 for a total of $1,350.
Last year, it was bought out by BayCom Financial and this was the consideration given, "each Uniti shareholder will receive $2.30 in cash and 0.07234 shares of BayCom’s common stock with cash to be paid in lieu of any fractional shares."
The consideration was $3.99 for each Uniti Financial Corporation share at the BayCom stock price of $23.39.
So I received 16 shares, $519.80 cash, plus $8.20 for fractional shares. It is a loss but I don't know how to treat this on TurboTax...
I should only report the number of the Uniti shares that I received as cash as the actual sale correct?
I converted the number of Uniti shares for the cash received and Baycom stock received. I owned about 226 Uniti shares before the merger so it's about 132 Uniti shares for the cash and 94 Uniti shares for the 16 Baycom shares I received.
Do I report the loss for the entire transaction or just the cash portion? Can I report the loss (which I prefer since I owe)?
