Thanks Tom, but in the 351 proceeds calc you used $24.05 as the value of each .11146 share of DVMT stock received. whereas the Form 8937 Line 16 says the value is $5.26. There was also a math error in your calc on the proceeds for Sec 351. Therefore, I think the following corrections are required:
100 x $20.17+100 x .11146 x $5.66 = $2,075.63.... not $2,543.09 as you listed.
This correction ripples through your other calcs as follows for new numbers:
1) Real gain= $2,075.63 - $1,104.95 x .8677 = $1.116.86...not the $1,584.33 you listed.
2) Redemption Gain = $388.00 - $1,104.95 x .1323 = $241.82..as you also listed.
3 11.146 DVMT stock basis = $958.765 - $2,017.00 + $1,116.86 = $58.628...not the $526.09 you listed.
4) Therefore, Partial share DVMT stock basis = 0.146 X $58.628 / 11.146 = $0.77....not the $6.89 you listed.
Do you concur with these corrections? If so I am ready to finish my tax return. If not, please tell me where I went wrong.
Thanks so much for your help on this, Tom. I hope it will also help others who have to report EMC/DELL merger on their taxes. BTW i corrected my spreadsheet to use your calculation formulas so if anyone wants it I can provide it to them to use on their own case.
John Ellis
