Quicken for Windows
OXY APC Merger
Curious if anyone has seen Form 8937 yet for this transaction? What numbers are you using to book this transaction?
edited August 2019
Assuming that you held APC, this looks to me like an all cash merger where you would record a SALE of APC at $72.34/sh.
Well, I found conflicting info on OXY's website. I'd suggest that you look there for the 8937 info.
Q user since DOS version 5
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
I can't find the 8937, but this document is an attachment to the 8937. I'm about to see if it's meaningful for me.
https://www.oxy.com/investors/Documents/2019 Attachment to IRS Form 8937.pdf
Diving into updated information on my Schwab account and reverse engineering it -
I had only a single lot of Anadarko simplifying gain/loss calculations.
Schwab's treating Anadarko as a complete sale with a reportable gain/loss as described in the 8937 Attachment, Part II, Question 16, 1st Paragraph, with a OXY FMV of $46.30 for whole shares received.
The Schwab OXY FMV compares favorably with the calculation in Part II, Question 16, 2nd Paragraph of $46.31.
My fractional share was sold at $44.925 / share.
Then Schwab treated the OXY shares received as a purchase with a cost basis of OXY received as $46.30 / share again.
The only thing in can't tell is Schwab's acquisition date for the OXY shares received. IMHO, the acquisition date in Quicken should be the same as the original lot(s) of Anadarko - only pertinent if you sell your OXY within 12 months.
I'm not a CPA. Your mileage may vary.
This appears to be a fully taxable transaction, meaning that you report gain or loss based "as if" you received entirely cash. That is, your "proceeds" = FMV of Occidental stock received + cash received.
It's "as if" you received the proceeds entirely in cash and then decided to take some of that cash and buy Occidental stock. You could even enter it that way in Quicken, making sure that the "FMV of Occidental stock" includes the fractional share. You'd then buy the Occidental stock, including the fractional share, then sell the fraction against the Cash in Lieu. Because of the structure of the deal your new stock has a holding period starting 8/9/19/
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