It will require a few calculations.
- You must get the original cost of the 5,300 shares.
- Add the $87K cash and the value of the 5,300 Shares
- Divide the $87K by the number from line 2
- Take percentage (line 2) X $42K
- This will be the percentage of the basis that will be used to offset the cash distribution of $87K.
- The balance will be the new basis of the 5,300 shares.
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