Capital Gains. I think. Thanks for taking the time to read.
I have what I believe is a slightly complicated capital gains distribution. I was gifted shares of a privately held company from my grandparents a number of years ago, probably 15-20. This past year I received a dividend in the spring and later in the year sold some shares back to the company and received a check. I received a 1099-div form that listed the dividend amount, but has nothing in any of the capital gain distribution boxes.
I contacted the company, and was told that their tax advisor said while it is taxable income, they don't send 1099-b forms, only brokers do. Further questions led to suggestions of consulting a tax professional, which brought me here.
Am I correct in assuming this should be categorized as long term capital gains? Don't I need some piece of paper stating this to send in with my return? Can I pretend I never received it and hope it doesn't bite me in the rear?
Please let me know if I can provide any more info to help find an answer.
Thanks everyone! |