Should the amount withheld from inside shareholders in a disbursement . . .
Question
Should the amount withheld from inside shareholders in a disbursement that was put into an Indemnity Account (with it's own EIN) be a 1099 B or a 1099 MISC? If it's B, I don't have any "# of shares exchanged" for box 5. If it's MISC is it "other income?"
Answer
First off, there a number of issues we will need to address. But no worry, we can also springboard those into the answers you need to file sucessfully.