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Level 2
posted Apr 7, 2020 11:38:49 AM

Micro Focus 2019 Cash Merger Dividend (Return of Value) and Reverse Split

In 2019 Micro Focus issued a Return of Value of about $4.31 per share prior to a reverse split.  Different investment companies are treating it differently on 1099-DIV: qualified dividend; ordinary but not qualified dividends; or nondividend distribution.  Any suggestions on proper reporting?  Thank you.

 

Return of Value Circular: https://investors.microfocus.com/investors-media/shareholder-information/shareholder-downloads/#

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1 Replies
Not applicable
Apr 7, 2020 11:53:29 AM

you may get a corrected 1099. i've gotten 1 in November a month after the filing deadline.

since your talking about $4 list it the way 1099 shows or file an extension and wait to see if you get a corrected 1099.   we have no way of determining the correct reporting.  it's the fund that sends the info to the broker to report  so maybe contact the fund.  but agin your taliking about just $4.