Washington Mutual WAHUQ Trust Prf (fka WAHUQ)

[Donotunderstand]

yes

they are doing trust reporting - honestly IMO - but also seriously confusing

My confused state started in 2012 when the trust sent a 1099 for a substantial amount of money and so reported to the IRS but I got no money (( think that 1099 showed about 2/3rds of the LTI value)

I called and they said they reported the INCOME (did a 1099) because by the end of 2012 the amount on the forms was the amount that they at that time felt they would have the money to pay to me

... i.e. until that 1099 report they had not felt they had any money - or better said they were not comfortable saying so in a legal or IRS document

So the good news was they were going to pay a bunch - that bad news is I was going to pay tax on phantom income

So I paid taxes that year on the phantom reported income and since then use their reports. I hope by the end of it all they do not send me 1099 dollar amounts above the amount of cash (or in lieu bonds) they sent my way (to my home or IRA).

I use as cost basis the cost of the WAHUQ shares that I swapped

I do not mind paying tax on the profit (amount paid to me above what the WAHUQ share speculation cost as I like making money and most of the time that means paying some of it as taxes)

And I do not mind paying tax on income earned while I wait