Rebecca holds 100 shares of Gotcha stock that she purchased for $1000 several years ago. In a merger of Gotchas into Solis, Inc, Rebecca exchanges her 100 Gotcha shares for 1000 Solis shares and $500. Gotcha is valued at $40 per share and Solis at $3.50 per share.
A. What is Rececca's realized and recognized gain/loss from the reorganization?
B. What is Rebecca's basis in her Solis stock?
Get Answers For Free
Most questions answered within 1 hours.