The company I used to work for had a buyback and I sold my shares which I've held for 19 years. The basis was $25k and I received a total of $50k in the buyback. They infrequently do buybacks. Today I received a 1099-Div that has the full $50k in box 1a (Total Ordinary Dividend).
Based on these factors:
1) Does it make sense that I would get a 1099-Div instead of a 1099-B?
2) If the 1099-Div is correct, should the entire sale be reported as an ordinary dividend? Or should I be asking the company to use field 9 Cash Liquidation distributions or other fields on the form?
3) Again if 1099-Div is correct, how do I reflect that there's a $25k basis so I should be taxed on the remaining $25k at long-term capital gain rates?
