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Thor1
Level 1

Buying back private stock from departing employee

Do I need to file anything to report buying back stock from a departing employee? It is unclear to me based on google search. I am not a broker, so filing a 1099-B doesn't seem correct, but it also seems unlikely that no filings are required. Does anyone know the answer to this?

2 Comments 2
john-pero
Community Champion

Buying back private stock from departing employee

Seems to me that 1099 DIV would be the form used When you need to file a 1099-B for stock buybacks - Wipfli

but only if stock buyback was $600 or more

Thor1
Level 1

Buying back private stock from departing employee

My understanding was that the "liquidation" referred to in the 1099-DIV description has to do with the company liquidating (not my small share going back to the company): https://www.investopedia.com/terms/c/cash-liquidation-distribution.asp. The company will continue on without me.

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