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Is the IP/Champion transaction fully taxable?

April 26, 2017Champion fully IP taxable transaction

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Is the IP/Champion transaction fully taxable?

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A. Yes. The exchange of Champion shares for IP shares plus cash is taxable. Therefore, you should determine whether the transactions on either June 16, 2000 or June 20, 2000 resulted in a gain or loss, which should be reported on your estimated tax returns and your annual tax returns.