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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29966
Experience:  Taxes, Immigration, Labor Relations
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My name is ***** *****. Issue regarding 1099 Div rec'd after

Customer Question

My name is ***** *****. Issue regarding 1099 Div rec'd after a company was sold. Stock was received in lieu of salary over a period of 5 years. Do I treat it as regular income? If it was over 5 years, can I apportion my taxes?
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Submitted: 1 year ago.
Category: Tax
Customer: replied 1 year ago.
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Expert:  Lev replied 1 year ago.
If shares were held more than a year - the gain is treated as long term.As shares were awarded in lieu of salary - the value of shares should be included into your taxable wages.Please verify that amount - and that would be your basis.If you paid any money for shares out of pocket - that is also included into basis.
Expert:  Lev replied 1 year ago.
.As the corporation was sold - you should receive form 1099B.If you received 1099div - it is possible the corporation was liquidated and that form reports liquidation distribution.Please verify..I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all tax related issues.