United Western Bancorp Inc (fka UWBKQ)

[fredscott36]

......LATEST PROBLEMS: 1. ARE BK TRUSTEE CASH LIQUIDATION DISTRIBUTIONS TAXABLE.....????..............and 2. CAN WE PLEASE MOVE ANY DISTRIBUTION DATE TO 2019........?????..............

......good problems because the money is "in transit".........some BK proceeds paid to claimants are NOT TAXABLE but apparently uwbi cusip holders do not fall into any of those tax-free categories, by nature of having stock in the BK ESTATE.................

.......back to the tax question.......yes.......taxable beyond the cost basis.....

.Proceeds from a cash liquidation distribution can be either a non-taxable return of principal or a taxable distribution, depending upon whether or not the amount is more than the investors' cost basis in the stock. Proceeds from cash liquidation distributions are reported on Form 1099-DIV. Any taxable amount the investor receives is reported on Schedule D, the capital gains and losses statement that is filed with the IRS form 1040 during yearly tax filings. If the amount the investor receives is less than their original cost basis invested in the stock, the investor may report a capital loss which reduces their tax bill.

and we heard about a uwbi cusip holder distribution date of 12/19/2018............almost impossible to push that date past 1/1/19.........often the BK TRUSTEE will note that late in December is problematic and could simply move the date to the 1st business day of the new year.....................we'll see...............

...............uwbi:.................ugly nightmare......continued forever................................