Capital Gains

[everestrepa]

During 2023 I owned shares of a U.S. corporation that entered into a merger agreement. Under the terms of the agreement, I received cash and a fractional share of the acquiring corporation's common stock for each share of stock I owned prior to the merger. My 1099-B does not reflect the cost basis of the original shares I owned nor any gain or loss on the transaction. How do I enter this transaction in Turbo Tax and shouldn't the capital gain/loss equal to the difference between (1) the sum of cash received and the market value of the shares received in the merger and (2) the tax basis of the stock originally held?

[Mike9241]

sorry each merger is a little different and has different tax reporting.  Try investor relations for both the old and new companies (look on the web). they can provide a link to the documents you'll need to compute gain/loss basis in new shares.  It is also possible that form 8937 was filed by the company to tell the iRS how the tax treatment should be handled.