KYUK AM

Calista Corporation Mailing 1099 Forms To Shareholders

Jan 31, 2019

Credit Calista Corporaton

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.