My company was acquired by another company in 2006. As part of the acquisition, I received payments for stock I owned. I was expecting to see some sort of 1099 form which would show the income from the stock purchase. I took a loss on this, so I want to be able to report this income, along with the loss, on my taxes. I thought the deadline for mailing out 1099s was Feb. 28- is this right? Also, is the company required to provide me a 1099 for the stock sale? If they do not, how do I report this income/loss on my taxes?
Thanks in advance for your help!
2007-02-28 02:30:10 · 4 answers · asked by Just Me 2 in Business & Finance ➔ Taxes ➔ United States
a 1099 is used to record dividend or interest type of stock options... If you sold stock you would not necessarily get any thing for that 1099. You would however have to state the price received and then the amount you sold it at to get the profit or loss but remember you can only claim $3000 for a loss for the duration of time... so if you sold it and got a $10,000 it would take the next four years to justify the amount...
2007-02-28 02:40:09 · answer #1 · answered by De 5 · 0⤊ 2⤋
You should file a 1040 with a schedule D to report the stock sale and loss on your taxes. If you don't receive a 1099 from the company, then go by your own records to figure out the loss or gain from the sale of the stock....
2007-02-28 10:42:17 · answer #2 · answered by pootfart3 3 · 0⤊ 0⤋
You should have received a statement with the transactions listed on it. Those transaction sheets are sufficient if they have the same information as the Form 1099-B. As long as they have the same (or more) information as the 1099 would, the 1099 is not required.
2007-02-28 10:52:37 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
UNCLE SAM is going to get his money best believe that! I think you pay at the end of every year or every time you withdraw money its all taxed,so really the goverment owns you.
2007-02-28 10:36:45 · answer #4 · answered by misty 1 · 0⤊ 2⤋