Kea Posted March 28, 2011 Report Posted March 28, 2011 Client owned shares of Burlington Northern Santa Fe. In Feb 2010 it was bought by Berkshire Hathaway. She got money + shares of Berkshire B. I am having a hard time finding the details of this transaction. Was it a sale and purchase (i.e. taxable sale) or exchange (non-taxable)? Proceeds are shown on the 1099B (but no basis info). Brokerage is reporting it as a sale, but some of what I'm finding on-line indicates it was a tax free exchange (except for the cash portion). I've tried looking at the BNI site & the Berkshire site and cannot find any details. If non-taxable exchange, does anyone have a link to the basis conversion calculations? Has anyone found anything on this? Client can't find documents sent with merger info. Thanks! EDIT -- Oh, Never mind. I found it. My link I swear I looked on this site before & couldn't find it. Quote
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