Yes I got my 1099-b today also. It is for the class 16 holders, or PIERS, wahuq. I called the trust over it and got a call back from the A & M people. He said it is what the TRUST has at this instant in time to cover your LTI balance, mine ended up being about 70% of my LTI balance. It is reported as a box 2a cash proceeds from transactions involving stocks.......x.x.x...... So it appears to be a sale on your 1040 and gain or loss reported. Time to compute PIER costs!
OK, I just saw my 1099-B and it shows about 70-71% of my LTI balance in box 2-a as proceed from stocks, bonds, etc. transactions. Since this is the amount that is reported to the IRS and it's reported as 2012 income, it means that we have to pay tax for the money we have not received yet? So if we get paid in 2013, what tax do we have to pay for 2013?
By this, it means that our H shares cost can be completely writen off as loss.
I am confused. Is there any tax expert on this board?