% | $
Quotes you view appear here for quick access.

Sterlite Industries (India) Ltd. Message Board

  • billygbillyg billygbillyg Sep 9, 2013 4:16 PM Flag

    How to Record for Tax Purposes.

    When I get a quote for SSLT today it is showing a price of $10.50. I have 200 shares of SLT so I should get 120 shares of SSLT to replace them. Can I record a sale of my 200 SLT today for 120 x 10.50 = $1260 . Can I also record today a purchase of 120 SSLT at $10.50 per share with no brokerage fees.


    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I didn't realize the price of SSLT was changing when I said it was $10.50 as there wasn't any volume being shown. But when I checked it later after the market closed it was showing a price of $10.47 so I guess that should be my cost basis for my 120 shares of SSLT and $6.28 would then be my sale price for my 200 shares of SLT which would equal 6.28 x 200 = 1256.40 which would equal 10.47 x 120 = 1256.40. I'm new to this merger stuff so please let me know if it sounds like I'm doing this right. I did buy my 200 shares on Sep 4th after the Aug 28th date of record date set but I'm not sure what difference that really made as I still have to exchange my SLT for SSLT shares anyway; I'm very confused about the significance of buying before or after the DOR as it doesn't seem to matter.

    • I forgot to add that I bought my 200 shares of SLT on Sep 4th after the August 28th DOR thinking I wouldn't get involved in having my shares exchanged but it looks like I got caught up in it anyway as SLT no longer shows as a valid ticker symbol and my broker doesn't show any price for the stock in my account.