"To allow time to complete the review of the taxable and non-taxable portions of the 2012 dividend distributions, the IRS forms reporting dividends will be mailed in late February 2013."
Has anyone recieved this information. Early Feb I received my normal 1099 from Fidelity. I am expecting a new 1099 after SCCO send out new information. Is this correct? Does anyone have experiece with this type of situation in the past?
If and when scco tells Fidelity some of the 2012 dividend is non-taxable return of capital (which reduces your tax basis of the stock), Fidelity will send you a corrected 1099. I suggest you not file your tax returns early and get an extension, if necessary.
Fidelity sent me two corrected 1099s for 2011. I expect two again this year.