@RT46 I have a somewhat similar situation to yours, in that I also received a 1099-B along with the 1099-DIV.
I received a 1099-DIV with the amount in Box 9 (Cash Liquid Distributions) that is equal to the number of shares I held x $51.50 sell price. Then I also received a 1099-B showing several sales of AABA on 9/23/19 along with the proceeds and date(s) acquired for each (these are all different vesting dates as the stocks were originally RSUs), however the total proceeds here is much less than the 1099-DIV amount. I did not sell any of these on my own; these sales all came from the liquidation distribution.
For all of these sales, the cost basis is listed as $0 and the quantity sold all show as 0. I am trying to figure out if indeed the cost basis should remain as $0 in this case or if I should lookup the price as of the date purchased.
Based on the below wording from Altaba's site, I am confused if the sales listed in the 1099-B represent the gain over and above my cost basis and hence why no quantity/cost basis is listed, making me responsible for taxes on the full proceed amount, or if these sales just make up a portion of the amount from the 1099-DIV and that I should be looking up my own cost basis for each of these to determine gain/loss. If the latter, why don't the proceeds from the 1099-B match the amount on the 1099-DIV? Why have I received a 1099-B when it seems that many others have not? Should I be concerned about these differences?
Basically has Altaba already determined my cost basis and factored this into the proceed amounts that have been listed in the 1099-B (hence why the proceeds are a subset of the full liquidation amount from 1099-DIV and there is no cost basis or quantity), or do I need to determine my cost basis for each?
@RT46 - does this sound like your situation? If so how did you handle?
@Rick19744 @DaveF1006 @KathrynG3 - Do you have any thoughts on this? Thanks in advance!
A liquidating distribution received by a U.S. stockholder will first be applied against and reduce the stockholder's adjusted tax basis in its Altaba common stock, before the stockholder recognizes any gain or loss. A U.S. stockholder will recognize gain as a result of a liquidating distribution to the extent that the aggregate value of the liquidating distribution and any prior liquidating distributions received by the stockholder with respect to a share exceeds the stockholder's adjusted tax basis in the share.
