1099B - Exchange of shares in merger of companies - 1 for 1. Is this taxable? If so I get proceeds less basis. If so, what is new basis in new company? Thx Chris

[TomYoung]

"Is this taxable?"

Might be, might not be.  It all depends on the deal.  Companies involved?  Did you get a 1099-B?

[kovy]

thanks for answer - I was hoping it was like the Heinz case that was answered earlier where gain was difference between fmv of new shares less basis of old shares

[TomYoung · Accepted solution]

"Is this taxable?"

If you got an 1099-B then "Yes".  Typically your basis in the new company is the per share FMV of the new shares at the time of the merger.  With a new holding period starting the day after the merger.

Tom Young