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Returning Member

I have received a 1099-Div for a complete liquidation with an amount in box 10, non cash liquidation distribution. I have a stock basis that is higher than the value of the units received in the liquidation. How do I report this?

 
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Level 15

I have received a 1099-Div for a complete liquidation with an amount in box 10, non cash liquidation distribution. I have a stock basis that is higher than the value of the units received in the liquidation. How do I report this?

Yes, and you need to go to the right section in the program and read the On Demand Tax Guidance.

 

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Level 15

I have received a 1099-Div for a complete liquidation with an amount in box 10, non cash liquidation distribution. I have a stock basis that is higher than the value of the units received in the liquidation. How do I report this?

The program should handle this for you but it is generally capital gain (short or long term depending upon your holding period).

 

See https://www.irs.gov/publications/p550#en_US_2019_publink100010093

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Returning Member

I have received a 1099-Div for a complete liquidation with an amount in box 10, non cash liquidation distribution. I have a stock basis that is higher than the value of the units received in the liquidation. How do I report this?

Thank you.

I don't know if my previous reply was sent. According to the IRS publication, losses are allowed if it is a complete liquidation. Do you know if this is your interpretation? Also, I entered the 1099-div and it stated that the transaction will handled later but nothing seems to have been done automatically. I may have to enter it as a Schedule D - 8949 transaction?

Thanks again

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Level 15

I have received a 1099-Div for a complete liquidation with an amount in box 10, non cash liquidation distribution. I have a stock basis that is higher than the value of the units received in the liquidation. How do I report this?

Yes, and you need to go to the right section in the program and read the On Demand Tax Guidance.

 

li.png

View solution in original post

Highlighted
Returning Member

I have received a 1099-Div for a complete liquidation with an amount in box 10, non cash liquidation distribution. I have a stock basis that is higher than the value of the units received in the liquidation. How do I report this?

Thank you.

I don't know if my previous reply was sent. According to the IRS publication, losses are allowed if it is a complete liquidation. Do you know if this is your interpretation? Also, I entered the 1099-div and it stated that the transaction will handled later but nothing seems to have been done automatically. I may have to enter it as a Schedule D - 8949 transaction?

Thanks again

Highlighted
Level 15

I have received a 1099-Div for a complete liquidation with an amount in box 10, non cash liquidation distribution. I have a stock basis that is higher than the value of the units received in the liquidation. How do I report this?

Did you see the earlier post? Yes, you have to enter the transaction in the Investment Income section.

 

@ggetto 

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Returning Member

I have received a 1099-Div for a complete liquidation with an amount in box 10, non cash liquidation distribution. I have a stock basis that is higher than the value of the units received in the liquidation. How do I report this?

Thank you for your help, I have not used the on demand tax situation before.

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