How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Barbara Your Own Question
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 2828
Experience:  18+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
71603090
Type Your Tax Question Here...
Barbara is online now
A new question is answered every 9 seconds

Pacific telesis has broken up many times. A friend has 12

Customer Question

Pacific telesis has broken up many times. A friend has 12 original stocks of this original stock and is seeking it's worth in its present form.
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: It was purchased in 1989 as pacific telesis. That is all I know. I am have an account with just answer. Thanks , Matt Modisette
JA: Is there anything else the Accountant should be aware of?
Customer: Don't have any more info yet. Doing this for a nephew
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.
Submitted: 6 months ago.
Category: Tax
Expert:  Barbara replied 6 months ago.

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Your nephew will need to start by calling AT&T shareholder services, at(###) ###-#### When he makes the call, he should have his stock certificates available. AT&T shareholder services will want to know the account number, his Social Security number, and the stock certificate numbers if it's different from the account number. Explain the situation and then follow their instructions. Your nephew will probably have some forms to fill out, and a few more calls to make. A lot has happened since 1989.

SBC acquired Pacific Telesis in 1996 in a deal in which 0.733 SBC shares were equal to one share of Pacific Telesis. This means those who once held 100 shares of Pacific Telesis stock received 73.3 shares of SBC after the merger closed.

Your nephew will then have to figure out what will happen to the dividends paid out and the tax consequences of selling some or all of his holdings. He can ask shareholder services the cost basis -- or original split-adjusted price -- for each of the shares he holds.

Please let me know if you require further information or clarification.

Thank you and best regards,

Barb

Expert:  Barbara replied 6 months ago.

Just following up with you to see if you have any other questions or concerns. If so, please let me know so I can assist you further.

Best regards,

Barb

Related Tax Questions