Does the loss of the merger create a deductible loss?

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A company with a reverse split 50 to 1 and my Bank merged and reorganized into another Bank. I still receive a monthly dividend from the New bank. I received a   1099-B and a "Direct Registration Account Statement. I have not sold the stock. 

[KittyM · Accepted solution]

No, the merger of your bank is not a taxable event. You will not recognize a gain or loss on an investment until you sell it.