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jamie41391
Level 1

I need info on how to report Level 3 and century link reorganization owned 70 sh of L3 and was given $26.50 for 70 sh at $1855 (cash) and 100 sh of century stock.

Is this going to be a taxable event. How do I go about reporting, and where, when I do my taxes this year?

1 Reply
Critter
Level 15

I need info on how to report Level 3 and century link reorganization owned 70 sh of L3 and was given $26.50 for 70 sh at $1855 (cash) and 100 sh of century stock.

The merger of CenturyLink and Level 3 Communications was completed on November 1, 2017. Under the terms of the merger agreement, Level 3 shareholders received $26.50 per share in cash and a fixed exchange ratio of 1.4286 shares of CenturyLink stock for each Level 3 shares owned, with cash to be paid in lieu of any fractional shares.

For more information on tax consequences of the transaction, refer to the form S-4 filed by CenturyLink with the U.S. Securities and Exchange Commission on February 13, 2017.

This information is for illustrative purposes and not intended as tax advice. You should consult your tax advisor as to the specific tax consequences to you of the transaction under U.S. Federal, state, local and foreign tax laws.

If you acquired your Level 3 shares through the acquisitions of tw telecom or Global Crossing, please find additional FAQs here.

http://ir.centurylink.com/investor-faq

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