Dtermining the Tax basis of ABT versus ABBV shares
I know that, in general, one allocates tax basis from the previously held shares of ABT across the new ABT and ABBV based on their relative market value at the time of the split/spin-off. In some instances companies issue relative valuations for the purpose of providing their shareholders with a basis for making this determination. It does not seem like ABT has done this. In some instances one looks to the closing price on the first day of trading. I have not been involved in an instance where the company began trading "when issued" shares prior to the actual date of the split/spin-off. Has anyone consulted with anyone who seems to know how the relative market value of ABT versus ABBV will be determined for the purposes of establishing tax basis?
I just spoke with ABT Shareholder Services and they said that ABT will issue a statement after the first day or two of trading in the new shares (so on Jan. 2 or 3) which will provide guidance about how to allocate tax basis as between shares of the new ABT and ABBV.