Anyone with help on reporting on income tax I received a statement from Broker showing I had $70,000 gains in barter and broker transactions as a result of the split up, would like to hear from others, I did not sell this stock ? I received no money is this correct
The receipt of the "coffee co" shares was a taxable event because they re-incorporated from the USA to the Netherlands. So the shares you received is taxable along with the special dividend you received. You should receive a 1099-DIV for the special dividend and a 1099-B for the shares.
I forgot to mention when you figure your cost basis in Sara Lee to get your cost basis in the "coffee co" you have to account for all stock splits, the Hanesbrands spin-off in 2006, and if you exchanged any of your shares in Sara Lee for Coach. I mentioned this on the " coffee co" message board (DEMBF), but forgot to tell it on the Hillshire Brands message board.