Question
WMI liquidating trust disbursement - how to enter
I received a final disbursement from WMI liquidating trust. The liquidating trust was set up years ago for security owners when Washington Mutual went into bankruptcy. "For federal income tax purposes each beneficiary is considered an owner of a portion of the trust."
I have received a "beneficiary tax information letter" due to the payment I received. It lists, Income, Deductions,(both negligible) Distribution and Net Operating loss (about 1/3 of distribution). "Taxation of Disputed Ownership Funds is a 'highly technical area of tax law" and it gives no guidance on reporting.
This was the Washington Mutual Liquidating Trust. There was a huge number of investors involved. Anyone know how to report this?
Thanks
