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My client received a 1099-DIV with more than $100,000 in box 8 (cash liquidation distributions). Is this taxable, or a return of investment. The client is unable to shed much light regarding his investment.
Box 8 on the 1099-DIV is the payment a shareholder receives in exchange for his or her stock when a corporation liquidates. It is treated the same as if the shareholder sold the stock. Report on Schedule D as a capital gain or loss, depending on the shareholder's cost basis in the stock.
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