Investors & landlords

@TaxPrepper if you have not already done so, go back and review my initial responses and replies to the original question(s).  These will provide an overview of this situation.

1. Liquidating distributions should be reported on a 1099-DIV.
2. As noted on the website FAQs, the plan was to have multiple liquidating distributions.
3. You as a stockholder should know your stock basis.  Whether this was done in a self-directed brokerage account or something else, this is critical.  Altaba will not have this information.  The Company only knows how many shares you have.
4. Your italics discussion is exactly on point as to how the overall gain or loss will be determined.  The final gain or loss will not be known until you receive the last liquidating distribution.
5. In general, 1099-B's in these cases are not accurate so use those with caution.  Additionally, you need to pay attention to how the 1099-B is being reported.  There are sections that indicate the information has not been reported to the IRS, there are sections / references that indicate cost basis is not known.
6. Based on item 5, the key is to make sure you don't duplicate any gain or loss.  My recommendation is once you know your cost basis, compare this to the initial liquidating distribution.  As noted in my previous response, if your liquidating distribution is less than your cost basis, show the liquidating distribution and cost basis as the same for no gain or loss.  Remember to keep track of this as you will need to know what cost basis is remaining should you receive additional liquidating distributions.
7. As discussed in item 5, once you understand the presentation you will report as necessary.  If the items are not reported to the IRS, then don't include them on your return.  If the items are reported to the IRS, then show the various sales and then once again show cost basis equal to the sales proceeds.  I will state once again, you need to understand these two documents to avoid duplication of sales and any gain or loss.
8. Depending on the $$ involved, it may benefit you to consult with a tax professional on this particular matter.