turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

nick11
New Member

Baxalta Acquisition Tax Accounting

A stock we owned (Baxalta) was bought by a European firm (Shire) in a taxable event. We received cash as well as shares in the European firm. I see how to account for the short term and long term capital gain but am at a loss how to enter the new shares of the European firm and how to show the tax consequences. How do we handle this in Turbo Tax?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Baxalta Acquisition Tax Accounting

I have addressed the Baxalta / Shire transaction here:

https://ttlc.intuit.com/questions/3814587-can-you-help-baxalta-shire-merger-cash-and-stock

The transaction is fully taxable and you use the sum of cash plus FMV of the stock as "proceeds" to determine your reportable gain or loss.  It's "as if" all the proceeds were paid to you in cash and then you used some of the cash to buy Shire stock.

Tom Young


message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies