demutualization

Sep 01, 2008 2 Replies

there was a recent court case where an ins co demutualized & gave the taxpayer shares of stock in the ins co



taxpayer sold the stock-the issue went to court IRS said zero basis taxpayer said basis=value upon demutulaization



don't have link to the case-but here is an article describing it



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taxpayer won & IRS may appeal



anyone filing refund claims for open years?


As a cross reference, there was a thread on this same topic started by "Bill" on Aug. 25.

-Mark Bole

I posted the link to the Claims Court case on 8/11.

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