Shareholder 1099 Forms on Their Way
You may receive two IRS 1099 forms as part of Chugach Alaska Corporation's year end reporting. They are as follows:
1099 DIV: The 1099 DIV includes the total dollar amount of regular dividends paid during 2008 and the additional dividend resulting from the Exxon Valdez Settlement. This amount will appear in two boxes of your 1099 DIV (boxes 1A and 1B). Box 1A and Box 1B are the same dollar amount. Box 1B is reporting to the IRS that all of the dividends in Box 1A are qualified dividends which make them eligible for a lower tax rate. If during 2008 you elected to have federal taxes withheld from your dividend, you will find the amount withheld in Box 4 of the 1099 DIV form.
1099 MISC: You will receive a 1099 MISC if you are considered a Shareholder at Large and received a 7j distribution greater than $600 in 2008. The amount of the 7j distribution will be in BOX 3. If during 2008 you elected to have federal taxes withheld from your dividend, you will find the amount in BOX 4 of the 1099 MISC form and you will receive a 1099 MISC regardless of the amount of your 7j distribution.
If you have any questions regarding the 1099's, please feel free to contact Grace Hoover in the Shareholder Services department at 907-550-4133.