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To determine the cost basis of "baby bells," or the regional telecommunications companies that emerged from the breakup of AT&T, you typically start with the original investment made in AT&T shares and then allocate that cost to the new shares received during the breakup. This can be done by using the allocation percentages provided by the IRS or the companies themselves at the time of the spinoff. Additionally, any dividends received, adjustments for stock splits, or other corporate actions should be taken into account to accurately calculate the current cost basis for tax purposes.

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2w ago

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