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How is a stock swap organizational action, where shares are exchanged and a 1099-B received, recorded on form 8949 (cap gain is deferred until sale)?

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Level 1
 
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Level 15

Are you saying the transaction is not taxable? If it is not, enter basis = sales price.

Strange to get a 1099-B on a nontaxable transaction.


ex-AllStar

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Level 15

Are you saying the transaction is not taxable? If it is not, enter basis = sales price.

Strange to get a 1099-B on a nontaxable transaction.


ex-AllStar

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Level 10
I agree.  I don't see qualified reorganizations on a 1099-B.  This smells like something else, probably something taxable.
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Level 15
Level 15
sold one and bought another,...isn't that swap?  :smile::smile:

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Level 10
:laughing: I have several clients who seem to think so.  "But I didn't take any of that money out, I just used it to buy different stocks so I shouldn't have to pay tax on it.":laughing:
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