||Capital gains or losses from trades of publicly traded securities (stocks & ETFs)
||The “B” stands for broker or barter exchange. This form includes details such as short-term vs. long-term gains or losses, transaction information, cost basis, date of sale, ticker symbol, quantity sold, gross proceeds, and federal tax withheld.
||Dividend payments and other distributions
||This form reports mutual funds. If you held any foreign securities domiciled outside the United States, any foreign taxes you paid are reported on this form. It also reports ordinary dividends separately from qualified dividends and specifies if you had any state or federal taxes withheld from your distributions.
||Banks, savings institutions, and brokerage firms typically generate these forms when you receive interest payments in your accounts. Common account types that receive interest income include checking, savings, money market, CDs, U.S. savings bonds, and investment accounts holding interest bearing securities.
||This form is used to report various types of non-employee compensation. Examples include money earned as an independent contractor, royalty income, prize monies, awards, and rental property income.
||Original issue discount
||If you purchased a bond or note for an amount less than face value last year, you could receive this form. It reports when the redemption price or face value of your investment was higher than its issue price. Examples include income from zero-coupon bonds, T-bills, or peer-to-peer lending.
||Distributions from qualified plans
||This form reports distributions from retirement plans, profit-sharing plans, annuities, pensions, insurance contracts, and disability payments. You should receive a separate 1099-R for each account and distribution code. If you rolled over an employer-sponsored plan into an IRA, you should also expect to receive Form 5498, which should balance out the distribution reported on your 1099-R.
||One account with multiple events in one year
||A 1099 Consolidated takes multiple 1099 forms and compiles them all together into one file. For example, a consolidated 1099 statement could include 1099-DIV, 1099-INT, 1099-B, and 1099-OID combined in one form.
The forms above are typically due to be postmarked and filed with the IRS, between January 31 and February 15. If you didn’t receive your 1099, many of tax software’s allow you to download your information directly from your investment website. If yours does not, don’t worry. You can call your institution and they can send you a copy. Note that only the 1099-R is required to be filed with your return if you had federal tax withheld from your distribution.
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