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Returning Member
posted Nov 17, 2022 12:26:16 PM

Liquidation distribution total includes C. Corp stock redemption (98.6%) and balance in corp.was 1.4% remaining cash. How to complete 1099-DIV?

Liquidation distribution total includes inherited C. Corp stock redemption (98.6%) and balance in corp. was 1.4% remaining cash. How to complete 1099-DIV and Schedule D on 1040. Want to make sure that the 1099-DIV ties out with the Schedule showing the stepped up basis of the  FMV of the C. Corp as of the as of the DOD.

Thank you. Does the tatal of the Liquidation distributions (two checks) go on line 9 of the 1099-DIV?

Thank you and have agreat day

0 2 486
2 Replies
Level 15
Nov 17, 2022 12:53:54 PM

@Rick19744 

Level 13
Nov 17, 2022 4:16:24 PM

Need some additional facts to understand exactly what we have here:

  • What type of entity is making the liquidating distribution?
  • Not sure I understand "inherited C corp stock redemption"
    • who inherited it?
    • the entity?
    • need more details 
  • When did the liquidating distribution take place?
  • The facts indicate "two checks", yet the facts seem to indicate that C corp stock was distributed along with some cash.  Need clarification on this.