What is the cost basis of my PNX Shares?
If you received your shares in Phoenix’s demutualization, your cost basis in those shares will be zero. Therefore, the entire proceeds of the sale of those shares will most likely be subject to tax. If your holding period for the shares is greater than one year, the applicable tax rate will probably be the long-term capital gain rate (you are treated as having acquired those shares on the date you acquired your Phoenix Life Insurance Company insurance policy or annuity contract). If you purchased your shares from a broker, the amount you paid for the shares will be your cost basis. We cannot provide tax advice. Your specific tax situation should be discussed with your tax advisor.
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