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system
calculation of loss for gm bonds and cost basis of new issues
user
i will say in advance this is not a great answer, but i had a similar experience when i owned a cit bond that defaulted. i ended up getting stock plus 5 newly issued bonds as a replacement for my defaulted bond. my broker had no clue on cost basis and didn't even try for the new securities, i called the "hotline" setup about cit default and they knew nothing, and finally i read all the paperwork around the restructuring but it was less than transparent. so in the end i ended up claiming everything as a wash, no gain/no loss - which probably screwed me in the end as i believe i ended up down. it was a very small position for me and was not worth the headache :(
assistant