> On Tue, Apr 25, 2000 at 02:56:02PM -0600, Bryan Larsen wrote:
> > I have mutual funds that split every December 1. They split to bring their
net
> > asset value back to $10. The ratios are never even. Last time, it was 11.
412
> > to 10 or something like that.
>
> This would also be an exception to the reverse stock split with a remainder
> problem. (That is 100 shares become 33 with 1 old share's value of cash.)
> With mutual funds you can (and usually do) have fractions of shares. With
> stocks only whole shares are allowed. At least this seems to be the case
> on exchanges that my stocks are on. Surely there is an exception to this
> rule somewhere.
I've had an exception; I had a situation where a security did a
"reverse split," where they divided by 3, rounded, and paid me cash for
the difference. So for the most part, it was "non-taxable," except for
the part where they bought one share...
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