Brand, Just got a 1099-int corrected and 1099-b via email as requested! Thanks to Angela! HMMM It doesn't make sense at all, now the new form 1099-B amount is a replaced amount of the old 1099-int and the new 1099-int corrected showing $0.....so the remaining $3.+/share I guess we don't get paid or to report for 2013 except the interest $0.211/sh showing on the new 1099-B!! What are your thoughts! I remember you said you talked to her!!
posted from smart board by sleepless TODAY REG piers: "My understanding (and experience) is that if you need to file an amended return, you cannot just redo the 1040 and write "amended" on it. You have to use 1040-X, which is kind of a pain because it makes you report various figures from the 1040, the corresponding amended figures, and the changes, but it's not a full 1040. You also have to include with the 1040-X amended forms (other than 1040) which have changes from your original filing. If you're using tax prep software it will presumably spit out all of the forms you need to include.
FYI: I contacted the LT a couple of weeks ago and was told that for PIERS, for as long as the LTIs have not been fully paid off, then we can expect to receive each year (1) 1099 and (2) Bene Tax Info Letter. Bad news: the latter is not required to be mailed out until 4/15, but the LT is trying to push up the mailing date.
So, if you've gotten only the 1099 so far, you might want to wait to do an amended return until the Bene Tax Info Letter arrives (unless you really like doing amended returns).
Real pain in the #$%$!
Lost, I requested her to send me via email b/c I told her I would have never received by mail (always lost in the mail- twice already -1 last statement q3-2013 and the recent 1099-int ) and I had plans to leave out of town on vacation last week and don't want to wAIt for it to be sent by mail and or waiting forever...OR LOST IN THE MAIL AGAIN!! But she said they had sent out last Friday the new 1099-b ALREADY!
No this is actually correct. So the interest income and debt payment from PIERS are lumped together and reported as one on the 1099-B. So we already get $7 per share last year and now we are getting about another 12.6%. So it means that there is more money to pay us. 12.6% means about 1.3 more so there is 3.5 - 1.3 to be available to pay us..
Brand, I STILL DON'T GET IT W/ YOUR CALCULATIONS!! Last year I got 1099-b $7360.56 for 1000 shares, ~$7.36 a share. If the full amount is $10.51, we have $3.15 left (10.51-7.36) If you said it's 1.3 then 1000 share should be $1,300, but my 1099-b for 2013 shows only $211.84! I can't figure out how the $211.84 come up? Anyway, I hope it's correct this time so I can do my taxes and efile tonight!! and done w/ it...