Discussion:Demutualization court case results?

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Discussion Forum Index --> Advanced Tax Questions --> Demutualization court case results?
Discussion Forum Index --> Tax Questions --> Demutualization court case results?

LSC CPA (talk|edits) said:

21 April 2008

I've been doing research today to see if the court case proceeding in federal court with regard to the cost basis of demutualized shares has been resolved. I have a client who sold over $40k worth of demutualized shares in 2007 and am wondering if a final determination has been made as to the cost basis. I do know that the court ruled that there should be some cost basis, but the case was still proceeding, according to the last reference I was able to find. Does anyone have any current information? Thanks. (The client is on extension, by the way.)

Riley2 (talk\|edits) said:	22 April 2008
The Fisher trial was supposed to begin May 1, 2007. As far as I know, the trial was never calendared. Suggest calling the Federal Court of Claims to see if the suit was withdrawn.