Hi,
I did get cash in lieu for one fractional share but that one I have sorted.
but more generally we received cash + shares in the merger. $x cash and $y worth of new stock for $z original stock.
for some ESPP and REU stock, I had basis $b greater than both the value of new stock at time of merger and the value of the cash received ($b > $y + $x).
so when I input the info into TurboTax I end up with a loss. Because cash received is greater than basis on the cash portion.
However I cannot take a loss on a merger transaction. Do I just adjust the basis down to be equivalent to the amount of cash received or should I adjust the gain/loss some other way. Seems like I should adjust the loss directly rather than reporting an incorrect basis but idk.
i have been following this for splitting basis among new shares and cash: https://www.merriman.com/news/how-to-report-a-cash-and-stock-merger-on-your-tax-return/
