Mark Bole wrote:
- quote -

http://www.uscfc.uscourts.gov/sites/...sher080608.pdf

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Benjamin Yazersky CPA wrote:
- quote -

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

-Mark Bole

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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

http://www.nysscpa.org/home/2008/808/4week/article3.htm


taxpayer won & IRS may appeal

anyone filing refund claims for open years?



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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. > << ------------------------------------------------------- >