Liquidating distribution on 1099 dating longview washington
1. Don't combine the amounts from 2 or more 1099-DIV forms if they're from the same payer.Instead, enter additional 1099-DIVs individually by answering Yes to Do you have any more dividend income from somewhere else which appears a few screens down the road.
I'm trying to find out what that "noncash" is for, maybe it is for some equipment that wasn't liquidated.Therefore, backup withhold in January, deposit the withholding when appropriate, and reflect it on Form 945, Annual Return of Withheld Federal Income Tax, for the year withheld.However, since the dividend is reportable on Form 1099-DIV for the prior year, the related backup withholding is also reportable on the prior year Form 1099-DIV.If it was a partial liquidation, there is nothing to report on your tax return.You adjust the cost basis of your stock or mutual fund by the amount of the partial liquidation shown in Box 8 or Box 9, then when you eventually sell the stock you will use the lowered cost basis as the purchase price of the stock.
There's a tiny box that needs to be checked on the 1099-DIV screen. Click to enlarge.)First, how to get there; then a little info below on why Box 8 and 9 is usually not taxable. Don't combine the amounts from 2 or more 1099-DIV forms if they're from the same payer.