Hi Tom,
Is the sale of proceeds of EMC shares on the section 351 portion taxable ? If so, what cost basis can I apply against the sale of EMC shares ?
Is it 100 % , 86.77 % , or 0 % (zero) ?
For example, If you have a net gain on the Section 351 portion, let say 1000 shares of EMC with the cost basis of $5.65 per EMC share, do I still need pay tax on the 351 portion ? and if so, which cost basis can I use against this sale to calculate / offset the gain ?
