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Comshare, Incorporated (CSRE) Message Board

  • jamesdarightone jamesdarightone Feb 16, 2012 7:23 PM Flag

    TAX Reporting 1009B

    I original purchased 1000 shares of Zoran for $12,000. Due to this goofy merger. Schwab reported on my 1099-B that I sold 1000 shares of Zoran for $12000 whiping out my loss. And then reported a second transaction, that I sold another 1000 shares of Zoran for 6.26 the price that CSR offered. So now I am suppose to report a $6260 gain. I called Schwab about this and told me that they were told by CSR or ZORAN to report it this way. This is a scam. Has anyone else experienced this?

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    • I had the same issue.....how can they represent an overall loss as a gain. I spoke to my Trading firm (Schwab), on 4/1.....they researched it and informed me that although it apprears incorrect, the loss is transferred to the CSRE stock.....And will be reported on the sale of that stock (if still at a loss)....They agreed that is usual, but informed me that the company can report it this way.

      I Filed my taxes under that premise, and ended up paying due to the capital gain for the merger.

      To make it worse, I just recieved a corrected 1099 dated 4/13/12, the correction reflects the merger/sale as it should, a loss in 2011...now I have to file ammended returns.....more fun!

      Hope this helps!

    • http://www.costbasistools.com/splits/splits.php
      Use this tool to calculate your basis on the Zoran shares that were exchanged for cash and CSR shares. When you get the numbers, you'll have the precise capital loss for your 2011 tax return. You'll also have the basis for the CSR shares you received for future tax returns.
      It worked well for me.

 
CSRE
51.62-0.02(-0.04%)Jan 29 1:45 PMEST

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