DF2 wrote:
- quote -

Or start on p64 of
http://www.investquest.com/iq/h/hban...xy/hbanx07.pdf

I have to say, they could have done a better job spelling out the
consequences of this transaction.
Joe
www.joetaxpayer.com

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In misc.taxes.moderated, pinbot2 wrote:

- quote -


http://fairmark.com/forum/read.php?3,27646,27727 looks like a
possibly-relevant read.

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Hi, could anyone help on the tax consequences of the cash payment
inthis message? I had 186.3908 shares of skyf and got a check
for563.46 (186.3908 x 3.023) This is part of a buyout of sky bank
byhuntington bank - they paid I received a 1099B and I am not sure
howto handle this tax wise, is the full 563.46 a capital gain? do I
putit on schedule D with a cost of zero ? see this website it gives
someother numbers, but they don't really give me a calculation. Maybe
Iam making this harder than it is, but I need to know the
properhandling of this. Here is the all the text they give you about
thebuyout :Under the terms of the agreement, Sky Financial Group
shareholderswill receive 1.098 shares of Huntington common stock, on a
tax-freebasis, and a taxable cash payment of $3.023 for each share of
SkyFinancial Group. Based on the $24.77 closing price of
Huntington'scommon stock on December 19, 2006, the transaction values
each shareof Sky Financial Group common stock at $30.22, a 25% premium
to itsclosing price of $24.17. Thanks

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >