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demutualization

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K

kellysan

Guest
What is the name of your state? LA

I received a 1099-B because my company received
payment for a demutualization and gave the employees who had been in the plan a check equally divided.

I did not received the 1099-B directly from the
insurance company, my employer did. I got one from my employer.

What are the rules if I am a third party? Is
is long or short term (I was in the plan for three
years, by my employer says that they, not I, was
the policy holder, and that is why they got the
check and 1099-B directly, not me).

Is the cost basis zero or the amount my employer said their broker charged them and them passed on to us, the employees?

Thanks,

Sandi
 



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