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I have a client who inherited shares on AT&T from her father in 1971. Through the antitrust case and the subsequent acquisitions and mergers she acquired stock in the current AT&T, Verizon Communications, and Vodafone.
Is the cost basis for all of these the the cost of the original AT&T shares at the time they were inherited?
Is the cost basis for all of these the the cost of the original AT&T shares at the time they were inherited?