Thank you and correct. I did receive profit from the sale.
1.) I received a 1099-B for the cash portion which i paid tax on by April
2.) I received no authoritative docs for the stock portion. Aside from a statement showing WHERE the stock was located and the K-1 with only this footnote:
DURING TAX YEAR YOU SOLD YOUR MEMBER INTEREST TO XXX for $NNN
YOU RECEIVED AN AMOUNT OF XXX STOCK, INCUDED IN YOUR ALLOCABLE SALES PROCEEDS. CONSULT TAX ADVISOR ON PROPER TREATMENT OF ALLOCABLE SALES PROCEEDS and the STOCK ROLLOVER AMOUNT
Using simple numbers
I sold 50k units of stock A (~ 0 basis) for $10/share (strike price at time of the buying company).
therefore 500K total profit received:
-- 400k cash reported on 1099-B
-- 100k of stock (10000 shares at 10/share basis)
You are saying none of the 100k was reportable in year received, only in the year(s) as units are sold. ?
