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My company was recently bought and our stock was transferred into the new company's stock. How can I (or can I ) take a capital loss on the transfer? Any help on this topic would be appreciated. The companies involve here are National City Bank and PNC.
I do not believe you can. To take a capital loss you would need to sell the shares completely. The transfer from the original shares to the new shares does not affect the underlying value of what the shares are worth before the transfer (ie if you had $1,000 in stock it is still worth $1,000 in new stock).
__________________ Blain Reinkensmeyer
Founder, stocktradingtogo.com
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