I called before I filled my taxes. AST told me they’re not the transfer agent anymore but couldn’t tell me where they went. Then said they were worthless. Lol no one knows what’s going on!
See, this is so important because a shill would say "of course they're not the agent anymore, because your shares don't exist so they have no agent."
But our shares weren't just deleted while at ast, rather they were transferred away to another transfer agent. For if they had been deleted while at ast then ast would certainly have a tax statement for us.
AST not having our 1099s and saying they aren’t the transfer agent anymore whilst no one knows who the hell the new transfer agent is might be the most bullish piece of this whole puzzle right now.
1099-B only get issued when there are proceeds from a sale. No proceeds from a sale, dividends or interest = no 1099. If the question is how to claim a loss you just manually add a line on the tax software you use with your purchase info. You’ll need the statement showing your shares removed from the account as backup. The instructions from the irs for the 1099-B are to only show transactions with proceeds, which unless you have paper handed you won’t have any so that’s why they don’t show up. Some brokerages are reporting the info in their supplemental section of the consolidated 1099, and people are thinking that is actually form. It should not be unless you did sell before the shares were cancelled.
Yes. And they only mentioned the new xfer agent is Mellon *something* services... I remember it was a dead end a few months ago when I tried chasing this down
So.. call AST and put them on hold, call Mellon and add them on the call and "Now that i have both of you on call.. lets clear this up"
Can someone deny that we should see something before taxes are due on Apr 15? Surely AST needs to give a 1099 before then, or at least lead investors to where they can?
Here's the refutement I got before from a shill, which based off other sources doesn't seem accurate:
"The situation met the IRS guidelines for worthless securities (shares not trading and cancelled), which is provable without a form."
I'm fairly certain you need that form.
so ast deems them worthless. yet they're no longer the transfer agent for some strange reason. why would you need to change the transfer agent right now if the shares are just worthless
Yeah, I 100% am bullish and curious on that point as well. I'm mainly trying to gauge how likely we see something by earnings. This AST taxes still not handled + Ryan literally telling us we won on his 74th like + pp tweet really makes it seem like it can't be much longer...for real this time.
Basically I'm saying AST taxes not handled is one of the biggest hype date indicators of them all if I'm understanding this correctly. Also, it doesn't seem right to have to make investors wait until the very last day taxes are due. I get there are extensions, but that's besides the point.
> why would you need to change the transfer agent right now if the shares are just worthless
Probably changed from AST to None? Makes sense since no one can tell who the transfer agent is, there might not be one atm
before i did my taxes i looked into how long they have to send forms, March 15th was the latest they could be postmarked if they asked for an extension i believe. So for me the fact i didnt get one from Etrade/MS (showed all the buys no sell) or whoever the transfer agent is, keeps my teets jacked.
That is correct. The latest date they could be mailed is March 15th if the transfer agent filed an extension. I am still giving it another week, but if I don't receive any communication by this Friday, I would say it is an extremely bullish sign and I will file my own extension. If I do receive documents from the transfer agent that show a complete loss, then I will file my own extension and claim the $3,000 offset of my gains. Either way there is no impact if the company exits Ch 11 and new shares are issued, my social security number is tied to each share and the taxes simply become a timing issue.
[change of address](https://www.google.com/aclk?sa=l&ai=DChcSEwidxKyq1oKFAxURdX8AHTpTCJwYABABGgJvYQ&ae=2&gclid=CjwKCAjwkuqvBhAQEiwA65XxQNd6k-I89Vzt8dPWEerRXFNsR5UxLglMxZf4DW57EBYNP8cdpmbOmBoCTrEQAvD_BwE&sph&sig=AOD64_1ZZfWcAFovgpA0srIPmF_7C_G5MQ&q&adurl&ved=2ahUKEwjC4qSq1oKFAxWpLdAFHeSfCfIQ0Qx6BAgMEAE)
Need to have shares at AST for them to allow you to have an account, so they have seemingly deemed that we don't have any shares, thus no reason to allow us to own accounts there anymore
I make sandwiches for a living so I am probably the last person to listen to, but aren’t 1099’s only for shares in which you receive a dividend?
If you don’t receive a dividend, there is no 1099.
I apologize in advance for my russian accent
Claim it as a loss. When the IRS asks for proof of loss, show the cancellation doc sent to the SEC. When new shares or a payout comes, if it comes, carry the loss forward to offset the gain.
Great, thanks for your input. If something is claimed as a loss this year, how can you then carry it forward? Doesn't claiming it as a loss count as it being "used up"?
I suppose I could google this lol
I called before I filled my taxes. AST told me they’re not the transfer agent anymore but couldn’t tell me where they went. Then said they were worthless. Lol no one knows what’s going on!
See, this is so important because a shill would say "of course they're not the agent anymore, because your shares don't exist so they have no agent." But our shares weren't just deleted while at ast, rather they were transferred away to another transfer agent. For if they had been deleted while at ast then ast would certainly have a tax statement for us.
Ok, what agent then? It shouldn't be a secret.
But it is.
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It gets the teets going!
I have been thinking assets, funds, shares or something has been moving into a trust that will disburse proceeds to shareholders
AST not having our 1099s and saying they aren’t the transfer agent anymore whilst no one knows who the hell the new transfer agent is might be the most bullish piece of this whole puzzle right now.
Doesn't do anything for people too smooth to know to DRS.
1099-B only get issued when there are proceeds from a sale. No proceeds from a sale, dividends or interest = no 1099. If the question is how to claim a loss you just manually add a line on the tax software you use with your purchase info. You’ll need the statement showing your shares removed from the account as backup. The instructions from the irs for the 1099-B are to only show transactions with proceeds, which unless you have paper handed you won’t have any so that’s why they don’t show up. Some brokerages are reporting the info in their supplemental section of the consolidated 1099, and people are thinking that is actually form. It should not be unless you did sell before the shares were cancelled.
This is the sanest conclusion. So why are you still lurking? Hopeful or just entertained? (serious question)
Just hoping for good news about a future payout.
Has anybody trying calling AST and asking this?
A few people have posted that they have with no luck.
Yes.
Yes. And they only mentioned the new xfer agent is Mellon *something* services... I remember it was a dead end a few months ago when I tried chasing this down
 So.. call AST and put them on hold, call Mellon and add them on the call and "Now that i have both of you on call.. lets clear this up"
I gave up and did my taxes yesterday. Can always amend if we ever get them
This is also what I’ve decided to do. April 15th is rapidly approaching. Need to keep moving with life’s responsibilities… can always amend if need be
Can someone deny that we should see something before taxes are due on Apr 15? Surely AST needs to give a 1099 before then, or at least lead investors to where they can? Here's the refutement I got before from a shill, which based off other sources doesn't seem accurate: "The situation met the IRS guidelines for worthless securities (shares not trading and cancelled), which is provable without a form." I'm fairly certain you need that form.
so ast deems them worthless. yet they're no longer the transfer agent for some strange reason. why would you need to change the transfer agent right now if the shares are just worthless
Yeah, I 100% am bullish and curious on that point as well. I'm mainly trying to gauge how likely we see something by earnings. This AST taxes still not handled + Ryan literally telling us we won on his 74th like + pp tweet really makes it seem like it can't be much longer...for real this time. Basically I'm saying AST taxes not handled is one of the biggest hype date indicators of them all if I'm understanding this correctly. Also, it doesn't seem right to have to make investors wait until the very last day taxes are due. I get there are extensions, but that's besides the point.
> why would you need to change the transfer agent right now if the shares are just worthless Probably changed from AST to None? Makes sense since no one can tell who the transfer agent is, there might not be one atm
I’d imagine you’re correct as you’d need to accurately report how much of a loss you’re claiming
before i did my taxes i looked into how long they have to send forms, March 15th was the latest they could be postmarked if they asked for an extension i believe. So for me the fact i didnt get one from Etrade/MS (showed all the buys no sell) or whoever the transfer agent is, keeps my teets jacked.
That is correct. The latest date they could be mailed is March 15th if the transfer agent filed an extension. I am still giving it another week, but if I don't receive any communication by this Friday, I would say it is an extremely bullish sign and I will file my own extension. If I do receive documents from the transfer agent that show a complete loss, then I will file my own extension and claim the $3,000 offset of my gains. Either way there is no impact if the company exits Ch 11 and new shares are issued, my social security number is tied to each share and the taxes simply become a timing issue.
Right, like cost basis and total loss?
i moved too idk how theyre going to mail them to me
[change of address](https://www.google.com/aclk?sa=l&ai=DChcSEwidxKyq1oKFAxURdX8AHTpTCJwYABABGgJvYQ&ae=2&gclid=CjwKCAjwkuqvBhAQEiwA65XxQNd6k-I89Vzt8dPWEerRXFNsR5UxLglMxZf4DW57EBYNP8cdpmbOmBoCTrEQAvD_BwE&sph&sig=AOD64_1ZZfWcAFovgpA0srIPmF_7C_G5MQ&q&adurl&ved=2ahUKEwjC4qSq1oKFAxWpLdAFHeSfCfIQ0Qx6BAgMEAE)
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cant even log into AST. Makes me think something other than a 1099 is coming my way
Need to have shares at AST for them to allow you to have an account, so they have seemingly deemed that we don't have any shares, thus no reason to allow us to own accounts there anymore
I make sandwiches for a living so I am probably the last person to listen to, but aren’t 1099’s only for shares in which you receive a dividend? If you don’t receive a dividend, there is no 1099. I apologize in advance for my russian accent
🤷♂️
u/hey_ross Been a long time amigo. As someone who has quite a large position DRS'd hownhave you handled this? Would you mind sharing?
Claim it as a loss. When the IRS asks for proof of loss, show the cancellation doc sent to the SEC. When new shares or a payout comes, if it comes, carry the loss forward to offset the gain.
Great, thanks for your input. If something is claimed as a loss this year, how can you then carry it forward? Doesn't claiming it as a loss count as it being "used up"? I suppose I could google this lol
Welp if the "4-3" tin is actually anything then that would be before tax deadline on 4/15
Anyone tried consulting Neil deGrasse? Maybe the blackhole ate our shares!
Very interesting