Summary
In insurance demutualization, federal court declines to apply “open transaction doctrine” or adopt IRS’s zero cost basis approach; it finds the IPO price of the shares the taxpayers received under demutualization was “the first valuation of what Plaintiff ...
Dorrance v. U.S.
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See Also
In Demutualization, IPO Share Price Guides Cost Basis Determination
In insurance demutualization, federal court declines to apply “open transaction doctrine” or adopt IRS’s zero cost basis approach; it finds the IPO price of the shares the taxpayers received under demutualization was “the first valuation of what Plaintiff ...