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How do I divide the share's cost?
I bought ten shares of AOL in 1999. Last year Time Warner took back my certificate for the ten shares and returned to me, six shares of Time Warner and One share of Time Warner Cable. I now have these shares in my online account. My question is; How much of what I paid for the AOL shares do I allocate to each of the shares of two completely different companies. It's not a boat-load of money (I really took a bath on this one) but I would like to do the right thing when I file my taxes after I sell the shares. I can use the write off since I did very well this year so far.
2 Answers
- APNLv 61 decade agoFavorite Answer
Normally for this type of deal, Time Warner (the management) would have a published guideline by which for every 10 shares of AOL, you were allotted 6 time warner and one tw cable. Also they should have got your consent or else an option to buy back at a certain value. You should go by that.
If thats not available, then it should be the market value of the shares on the day it was trnsacted.
End
- Anonymous1 decade ago
I think the best way is to figure out how much the Time Warner and Time Warner Cable shares were worth at that time and multiply it times the number of shares you received. Or take the market price of the AOL stock your owned at the time they swapped it out and make 1/7 x that amount for Time Warner Cable and 6/7 for Time Warner.
