On Thursday, the Calista Regional Native Corporation is mailing out paperwork that shareholders will need when filing for federal tax returns. The 1099 forms reflect IRS dividend and distribution reporting.
According to a Calista press release, shareholders who received more than $10 in 2018 dividends will receive a 1099-DIV, but it won't be taxable. Calista notes that this 1099 should match April 2018 dividend payments, and the form will have Box 3 checked, indicating that the dividend is non-taxable.
On the other hand, all at-large payments for Class B shareholders are taxable, no matter the size. This money comes from other Native corporations, and is taxable. Class B Calista shareholders who received more than $600 in 2018 revenue sharing will receive a 1099-MISC that Calista says should be reported on year-end tax returns.
The two 2018 Calista Corporation Settlement Trust distributions are not taxable and will not generate a 1099 form. These two distributions were a fall distribution and an Elder’s Benefit payment.