Question

Liquidation distribution total includes C. Corp stock redemption (98.6%) and balance in corp.was 1.4% remaining cash. How to complete 1099-DIV?

Forum|Forum|3 years ago
November 17, 2022
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Liquidation distribution total includes inherited C. Corp stock redemption (98.6%) and balance in corp. was 1.4% remaining cash. How to complete 1099-DIV and Schedule D on 1040. Want to make sure that the 1099-DIV ties out with the Schedule showing the stepped up basis of the FMV of the C. Corp as of the as of the DOD.

Thank you. Does the tatal of the Liquidation distributions (two checks) go on line 9 of the 1099-DIV?

Thank you and have agreat day

TurboTax Business Windows

Employee

Employee

Need some additional facts to understand exactly what we have here:

What type of entity is making the liquidating distribution?
Not sure I understand "inherited C corp stock redemption"
- who inherited it?
- the entity?
- need more details
When did the liquidating distribution take place?
The facts indicate "two checks", yet the facts seem to indicate that C corp stock was distributed along with some cash. Need clarification on this.

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