Announcement

Collapse
No announcement yet.

Those WHFITs 1099s

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    Those WHFITs 1099s

    sure came in handy this past season, didn't they?
    Tags: None
    #2
    Those WHAT??

    Comment

      #3
      If they were great, I want some, whatever they are. Do I get them, or give them????

      Comment

        #4
        Hmm...a couple of investing novices, obviously.

        WHFIT is an acronym for Widely Held Fixed Investment Trust.

        What are they? Please refer to Regulations section 1.671-5(b)(22). For information with regard to 1099 reporting obligations, refer further to Regulations section 1.671-5(e). Note that non pro-rata partial principal payments and secondary market trust interest must be included to avoid non-compliance penalties.

        I'll post more later on possible safe harbor rules for these and also non-mortgage WHFITs (NMWHFITs).
        Last edited by Black Bart; 07-02-2009, 02:55 PM.

        Comment

          #5
          Yikes!

          I'm glad I DON'T know about them........

          Comment

          Previous template Next

          Disclaimer

          Collapse

          This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

          Working...
          X