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Visitor II

Liquidation of an inherited REIT

My wife inherited a REIT in 2011 with a FMV of $14,640 at that time. In December of 2017 the REIT was Liquidated and She received a 1099-DIV (Only) with Box 8 showing $6800.00 which is the actual amount of the liquidation distribution. All other 1099-DIV boxes show 0.00. If I understand the tax treatment of this action, she has a long term capital loss of ($7,840).  From 2011 on she has been receiving and declaring the cash dividends (Also provided via 1099-DIV boxes 1a, 1b) from her Investment Trust so the prior dividend income has all been reported on prior tax returns (2011-2016). My question is, have I correctly recorded this Capital Tax Loss?       

2 Comments
Catalyst V

Liquidation of an inherited REIT

Yes

Visitor II

Liquidation of an inherited REIT

Thank you for the kindness of a response. I always say: “check yourself before you wreck yourself.”