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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. We also encourage you to visit our Tax Resources website at www.edwardjones.com/taxcenter for more details.
When will I receive my tax forms?
Most taxpayers are familiar with January 31 as the deadline for tax form delivery. This is the deadline for a singular Form 1099, such as a Form 1099-R for IRA distributions or Form 1099-Q for a 529 plan.
However, for taxable brokerage accounts, Edward Jones issues a consolidated reporting statement as permitted by the IRS. The IRS deadline for these statements to be delivered is February 15, not January 31. For each taxable brokerage account, our Consolidated 1099 Tax Statement includes all applicable Forms 1099 (such as Forms 1099-INT, 1099-DIV, 1099-B, 1099-OID and/or 1099-MISC).
On February 15, we produce Figures Not Final forms for all accounts that are not yet final. After this date, Figures Are Final versions are produced as the tax reporting information for accounts becomes final. On March 15, we produce all remaining Figures Are Final forms.
What if my tax form says Figures NOT Final?
Issuers of some securities may report information to Edward Jones later in the tax season, which will delay tax forms being finalized. We process finalized information as soon as possible and produce your tax form once we receive all finalized information from issuers of all securities in your account.
Types of securities that may cause delayed reporting:
Your form will indicate the securities for which we do not have final figures. Consider providing the form to your tax professional as soon as you receive it; he or she may be able to begin working on your tax return. We will send you a Figures Are Final form as soon as we receive final information from the issuer.
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. This does not affect the actual amount of money you received from your securities. 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 provided 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 IRS allows until May 31 to issue Form 5498 to capture contributions made up until April 15. 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 calendar-year contributions (January 1 – December 31.)
Form 1099-B 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 Supplement Explanations 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.
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.
Mid-January to April 17:
April 19 to mid-October:
From mid-January to April 18, you can access our automated system to check the status of your tax form at any time, day or night.
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.
For your convenience, we have provided a PDF of this list for your reference.
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.