Hello,
I owned stock from HEP that was purchased by DINO and went through a stock + cash merger. The merger resulted in a cash payment $4/share and issue of 0.315 shares of DINO for 1 share of HEP. For my 1099 B, it appears to show the short term gain/loss correctly and the long term makes no sense to me and the Schwab guy didnt understand it either. He noted he thinks the merger was a 368a but does not seem to be reported even though it has been 45 days, and method for value change would be fair market value HEP at time of merger + cash minus original cost basis. For me this would be a loss, but on my 1099B the cost and proceeds look incorrect and on the 1099B it says "not reported to IRS" and shows a delta of a few dollars for net gain/loss.
here is all i can find on it - http://s21.q4cdn.com/[removed]/files/doc_downloads/2023/12/hfs-merger-faq-final-12-05-2023.pdf
My question is does it matter? Google seems to imply a 368a gain/loss cannot be claimed. Or is that incorrect and i should be trying to make Schwab correct my 1099B to reflect what i stated above? Or am I completely off?
Thanks, Jason
