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Accomacktax
Level 3
March 7, 2026
Question

1099 DIV BOX 9

  • March 7, 2026
  • 3 replies
  • 17 views

CLIENT FILES 1065 THEY RECEIVED A 1099 DIV CASH LIQUIDATION DISTRIBUTION IS IT REPORTABLE  I WOULD LIKE TO SHOW IT IF POSSIBLE EVERYTHING I HAVE READ SAYS ITS NOT REPORTABLE

 

3 replies

IRonMaN
IRonMaN
Level 15
March 7, 2026

HAVEYOUREDUCEDTHEINVESTMENTACCOUNTONYOURBALANCESHEETTOREFLECTTHEDISTRIBUTION?

Slava Ukraini!
    Just-Lisa-Now-
    Just-Lisa-Now-Intuit Community Champion
    Intuit Community Champion
    March 7, 2026

    A cash div liquidation is entered like a stock sale on Sch D on a 1040. Im not familiar with entering Sch D transactions for a partnership, but Im not sure why it wouldnt be reportable income.

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    sjrcpa
    sjrcpa
    Level 15
    March 7, 2026

    @Just-Lisa-Now-  It's reportable to the extent it exceeds basis in the stock.

    The more I know the more I don’t know.
      ljr
      ljr
      Level 9
      March 8, 2026

      report after they receive enough distributions to get past basis

        dascpa
        dascpa
        Level 11
        March 8, 2026

        The above is correct, it's a capital gain transaction after the capital acocunt has been reduced to -0-. However, I've seen where the buyout of a owner on an installment basis has been reported as a cash liquidation dividend. Get the facts before ignoring.

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