1099 Information - Stock Records

Stock Records

General Information Patronage Refund Allocations Redeeming Your Equity 1099 Information Distribution Schedules Frequently Asked Questions Contact Information

Why did I receive a 1099?

In order to comply with IRS regulations, if a member or patron receives a tax reportable check during the current year, a 1099 tax form will be generated.

1099-DIV is generated when:

• Dividend issued is greater than $9.99.
• Dividend issued with a non-verified FED ID and Federal Tax was withheld.
• Redeemed/reissued dividends greater than $9.99.
  

1099-PATR is generated when:

• 40/60%-split refund is issued and the 40% cash portion is cashed.
• 40/60%-split refund is issued and the 40% cash portion is cashed and Federal Tax was withheld.
• Revolvement of 100% of a prior year’s patronage refund allocation (assumes the 40% refund check was not cashed).
• Redemption of a member account when the original 40% check was not endorsed and cashed in the year of issuance.
• Reissue of a revolvement or redemption check when the original 40% check was not endorsed and cashed in the year of issuance.
• 100% refund (patronage refund in the amount of $5.00 through $9.99) was issued and Federal Tax was withheld.