Now that this year's tax season is over, I already have a question about next year's taxes! Starwood hotels (HOT) recently sold some of its properties to Host Marriott (HMT). The letter from HOT indicates that there are capital gain/loss tax consequences of the sale, and acquisition of some HMT stock. The calculations depend upon the date the HOT stock was acquired, since the HOT stock consisted of 'paired' shares of differing values depending upon the acquisition date, and one of the 'paired' shares was spun off to HMT in the sale. My question: I acquired the HOT shares by inheritance (and yes, I understand that my stepped-up basis is as of the date of death) However, these HOT shares were originally acquired by the decedent several years earlier. Am I correct in assuming that the tax calculations I make (percentage of HOT stock attributed to each part of the 'paired' share) should be based upon the original date of acquisition of the decedent, and not the date I acquired them by inheritance?
- posted
18 years ago
>
>
>
>
>
>
>