Wmi liquidating trust 1099 b. CostBasis.com.



Wmi liquidating trust 1099 b

Wmi liquidating trust 1099 b

Washington Mutual Inc Bankruptcy Reorganization The collapse of Washington Mutual back in those dark days of was bad enough, but now WaMu investors are frustrated at the lack of information regarding how to account for the securities received as a result of the bankruptcy reorganization.

No tax guidance whatsoever is provided. In the absence of tax advice from the bankruptcy administrator or your brokerage firm, WE are willing to stick our necks out and give you some guidance.

The fomer common shares were cancelled and instead former common shareholders who opted in to the bankruptcy proceedings received the following for each share of Washington Mutual Inc: An initial distribution made on March 23, of: Note that you only received the distributions listed above if you affirmatively consented to the bankruptcy reorganization.

If you did not opt in, you will receive nothing at all. After the remaining assets are sold and the secured interests and higher priority claims are paid off, the common shareholders will receive a pro-rata share of whatever is left. Not a Worthless Security. Therefore, you cannot allocate your basis between the two new securities until the dissolution of the trust in three years.

The trustee has not published any estimates or projections as to what the common shareholder beneficial interests may expect to receive, if anything.

In Case of Sale. In Case of No Sale. Take 1 the fair market value of 0. Cash in Lieu Payment. This avoids the situation of paying capital gains tax when you know you have a big loss. Remember to deduct the cost you assigned to the fractional share during your basis calculations above. Trigger for Capital Loss. Always be consistent in your tax treatment.

Some brokerage firms have been assigning all of the WAMUQ cost basis to the liquidating trust units and showing zero basis for WMIH, because the allocation is not known yet. Lesson To Take Away. If this website has been helpful to you, please consider making a donation to support our efforts.

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Wmi liquidating trust 1099 b

Washington Mutual Inc Bankruptcy Reorganization The collapse of Washington Mutual back in those dark days of was bad enough, but now WaMu investors are frustrated at the lack of information regarding how to account for the securities received as a result of the bankruptcy reorganization. No tax guidance whatsoever is provided. In the absence of tax advice from the bankruptcy administrator or your brokerage firm, WE are willing to stick our necks out and give you some guidance.

The fomer common shares were cancelled and instead former common shareholders who opted in to the bankruptcy proceedings received the following for each share of Washington Mutual Inc: An initial distribution made on March 23, of: Note that you only received the distributions listed above if you affirmatively consented to the bankruptcy reorganization.

If you did not opt in, you will receive nothing at all. After the remaining assets are sold and the secured interests and higher priority claims are paid off, the common shareholders will receive a pro-rata share of whatever is left. Not a Worthless Security. Therefore, you cannot allocate your basis between the two new securities until the dissolution of the trust in three years. The trustee has not published any estimates or projections as to what the common shareholder beneficial interests may expect to receive, if anything.

In Case of Sale. In Case of No Sale. Take 1 the fair market value of 0. Cash in Lieu Payment. This avoids the situation of paying capital gains tax when you know you have a big loss. Remember to deduct the cost you assigned to the fractional share during your basis calculations above.

Trigger for Capital Loss. Always be consistent in your tax treatment. Some brokerage firms have been assigning all of the WAMUQ cost basis to the liquidating trust units and showing zero basis for WMIH, because the allocation is not known yet. Lesson To Take Away. If this website has been helpful to you, please consider making a donation to support our efforts.

Wmi liquidating trust 1099 b

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