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WMIH Corp. Message Board

  • danti89118 danti89118 Mar 17, 2014 2:44 PM Flag

    1099-CORRECTED INT/ 1099-B

    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 $ 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!!

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    • 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 #$%$!

    • danti how did you get this emailed to you???

    • 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..

      • 3 Replies to brandmarty2
      • duptegraff Mar 17, 2014 5:17 PM Flag

        Yes they are bring the total closer to the$10 something, the interest, as originally given is not accurate, how can you get interest if you haven't been paid principal yet on the PIERS.

      • 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...

      • There is only (3.5 - 1.3) = 1.7 per share left to go to pay PIERS. Does anyone remember how many PIERS shares there are?

        We are getting closer and closer to equity getting paid. Here comes the 33B that Spot is talking about :) Stay out of you will get crushed under the 33 kilotons bulldozer.

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