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WMIH Corp. Message Board

  • danti89118 danti89118 Mar 13, 2014 7:45 PM Flag

    CORRECTED 1099-B


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    • OK I just received another 1099-INT today. I got one last week.

      I have 2 PIERS accounts and so that explains why I got 2 1099 forms.

      The amount that was reported is equal to 12.58% of what is owed to me, so this could not be interest money because we don't get paid that much for interest. So I wrote to Angela and although she could not confirm if this is interest money or the money still owed to PIERS, she confirmed that a 1099-B will be sent out soon to report this 12.58% amount and another 1099-INT will be also sent out to report 0.

      So this is semi good news because there is a little more money to pay PIERS an additional 12.58% on top of the $7/share already reported. I think the amount that is due to PIERS (10.5 per share) will be lumped together with the interest money and reported as one amount on a 1099-B form.

      From Angela:

      Unfortunately I cannot answer your questions because our company did not prepare the data for the tax forms. All I know is that we are sending out corrected 1099 INT forms that will have zero amounts and sending a new 1099 B form to the PIERs holders. Please call the number on your tax form for your questions. 206-432-8732.

    • Nope.

      I am not sure if KCC was correct when they said they will send a corrected 1099-B because the 1099-INT was correct because it reported interest income. So unless there is enough money to pay the other 3.5 then I don't see any reason for sending out a 1099-B.

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