At Edward Jones, we want your tax preparation to go as smoothly as possible, so we’ve compiled some of the most frequently asked questions we hear from our clients during tax season. View a PDF version of this list.
When will I receive my tax forms?
Due to a number of factors, we can't provide an exact date we will furnish your final tax form to you. However, Edward Jones does comply with all IRS deadlines. The following information may help you estimate when you will receive your form:
What if my tax form says Figures NOT Final?
What if I receive a Revised Final Figures form?
Provide the form to your tax professional immediately. If you have already filed your tax return, consult with your tax professional about whether to file an amended return.
Why would my figures be revised?
Edward Jones strives to minimize the need for revisions to your tax forms, but there are times when we are required to send you a Revised Final Figures version of your form. The specific reason for the revision will be listed on the cover letter sent with your revised form.
Why didn’t I receive a 1099?
The IRS does not require tax forms to be issued for every account at Edward Jones.
Why do the figures on my 1099 differ from those on my statements?
Issuers of your securities may reclassify the type or timing of the income paid to you throughout the year. As a result, amounts seen on your monthly statements may not match entry-for-entry with your tax forms. The Consolidated 1099 Tax Statement is your official tax form and should be used when preparing your income tax returns. You can find more details in the Summary of Investment Income supplemental section of your Consolidated 1099 Tax Statement.
Will I receive Form 5498? And if so, when?
Form 5498 is furnished to you if you made a contribution to an IRA, rolled over an IRA, recharacterized contributions, converted to a Roth IRA, or if the IRA owner passed away during the prior tax year.
Form 5498 is mailed in May and is not needed to file your tax return. Your monthly statements provide the contribution details needed for your tax return. The deadline for brokerage firms to furnish Form 5498 is not until May 31 so that contributions made to traditional and Roth IRAs by the individual tax filing deadline, generally April 15, are captured. Once you receive Form 5498, you may want to provide a copy to your tax professional for his or her records.
Note: For SEP and SIMPLE IRAs, Form 5498 reports contributions deposited to the account during the calendar year (Jan. 1 - Dec. 31.)
Form 1099-B we furnish to you provides cost basis for securities you sold. However, if we are missing cost basis information, the form will indicate that the cost basis for that sale is unknown. The cost basis may be unknown for several reasons, and you can help us update your cost basis by providing some information:
What to know if you provide updated cost basis
During tax season, if your branch team updates cost basis for a security you sold, a new current-year tax form will be generated unless you instruct otherwise. If you do not want a new form to be produced, we still recommend that you provide the cost basis to your financial advisor. This will help ensure your tax forms will have cost basis information in the future.
Note: Updates to cost basis information may also cause a revised 1099 to be generated if the security was sold in any of the previous three tax years.
Cost basis reporting regulations require Edward Jones to perform calculations and adjust cost basis for certain fixed-income securities as designated by the IRS. We provide supplemental information detailing these adjustments in our Consolidated 1099 Tax Statement if you hold securities requiring adjustments. For more details, see the Fixed-income Supplemental Information section of your tax statement.
Additional documentation for limited partnerships and royalty trusts is provided by the organizations themselves. Edward Jones has no control over when they become available.
Address corrections: If the address on your tax form is incorrect, contact your financial advisor to make sure the address we have on file is updated.
Tax identification number corrections: We use the tax identification number on file with us as of December 31 of the tax year when reporting to the IRS and on your tax forms. If the name or SSN/Tax ID on your form is incorrect, please contact your financial advisor to make sure the name or number we have on file is updated. The correct name and number will appear on all future tax forms. We can correct a name or tax identification number on a current year tax form only if the name or number used was incorrect due to our error.
Edward Jones Online Access provides you with a convenient and secure way to access and manage tax forms during tax season. If you are not enrolled, visit www.edwardjones.com/access to enroll today and enjoy these benefits:
For tax preparation assistance:
Contact a tax professional or the IRS at 1-800-829-1040 or www.irs.gov.
For investment assistance and account questions:
Contact your Edward Jones financial advisor.
For questions about Edward Jones tax forms:
Call the Edward Jones Tax Hotline at 1-800-282-0829.
Edward Jones Tax Hotline associates are available to answer questions about the tax forms we produce. We do not provide tax advice or tax preparation assistance but will be happy to help you understand your forms.
You may also check the status of your tax form at any time from mid-January through April 15 using our automated response system.
Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation. This content should not be depended upon for other than broadly informational purposes. Specific questions should be referred to a qualified tax professional.