A 1099 is an IRS form that is used to report sales proceeds, dividends, interest and other types of income and proceeds that posted to your ShareBuilder account during the year. In short, transactions that are reported to the IRS. If your Individual, Joint or Custodial accounts meet the reporting thresholds, you will receive a substitute combined 1099 statement that reports one (or more) of the following types of 1099s:
- 1099-B – Reports the proceeds from sales and other transactions involving the exchange of securities for cash
- 1099-INT – Shows any interest that you may have earned
- 1099-DIV – Reports any dividends and capital gains income you may have received from either your securities or money market fund
The 1099-R for IRAs and 1099-Q for ESAs are used to report any distributions taken during the tax year. We will send out these forms via mail by January 31.
To access your 1099 forms, follow the instructions below:
- Go to Accounts > Tax Center > 1099 Tax Forms (sign in required).
- Select your account and tax year
- Enter the last 4 digits of your SSN/ITIN for security verification
- Click Search to see a PDF version of your 1099
IMPORTANT TIP: If you own a custodial account, the parent or guardian for the child on the account may need the 1099 forms to file taxes for the minor.
While we cannot provide tax advice about your 1099 forms, a great source of information on 1099 forms is the IRS website. Also, you can contact a qualified tax advisor to help determine which method to use when calculating the cost basis for the gains and losses on your assets.