RE: capital gain The date for declaring the capital gain on the cash offer is based on exactly when you get the cash as income You get it dec 31st or prior it is on your Captl Gns/Losses Sched for 2012. As to losses, why not take them anyway in 2012 as they can be carried forward if unused (and net losses even carried back up to 6 year), and you can buy back the stock after 30 days. The cost base on SpinCo's will as stated be zero in this instance so buy more Vetas SpinCo and Sell other SpinCo whether in 2012 or 2013. JMO