1099 Tax Guide

The IRS requires brokerage firms to mail or electronically deliver 1099 tax statements by Feb. 15 each year.

Please check to see whether your 1099 is marked “Figures Are Final” or “Figures Not Final.” Even though we must furnish 1099 tax statements by Feb. 15, the issuers of some securities have until March 15 to provide brokerage firms with final tax data. This means we sometimes must furnish 1099 tax statements marked “Figures Not Final.”

Securities with a March 15 tax reporting deadline include CMO/REMICs, grantor unit investment trusts, royalty trusts, HOLDR trusts and mortgage trusts. If you hold these investments and you receive a “Figures Not Final” Consolidated 1099 tax statement, be assured that we will work to issue your finalized 1099 as soon as we receive final data from the issuers of your investments, which may be mid-March.

The following section takes you through the different 1099 forms Edward Jones provides and points out specifics that may assist you and your tax professional with preparing your return.

Edward Jones clients can view and print their 1099s through Online Account Access. Simply click the “Online Documents” after logging on.

Descriptions of specific 1099 forms
Click on the form name to see a sample and explanation of the boxes on the form.

1099-DIV
If you have received payment of a distribution on a stock or mutual fund, you should receive this form from the payor.

1099-INT
If you have been paid interest on certificates of deposit, corporate bonds, U.S. savings bonds, Treasury bills, Treasury notes or Treasury bonds or other bonds, you may receive this form from the payor.

1099-B
This form is used by brokerage firms to report the sale of stock, mutual funds, bonds, CDs and debt instruments. In addition, this report also lists proceeds from sales of fractional shares if gross proceeds are over $20 and from any redemptions or exchanges. See New Cost Basis Reporting Requirement for Sale of Securities Purchased after 2010.

1099-MISC
If you received at least $10 in gross royalty payments or at least $600 for certain miscellaneous payments, you may receive this form from the payor.

1099-OID
This form is used by issuers of bonds or certificates of deposit to report original issue discount.

1099-R
If you received a distribution(s) from a retirement or profit-sharing plan, IRA, Simplified Employee Pension (SEP) or insurance contract, you should receive this form from the payor.

Questions? Contact your local financial advisor.

Please note that Edward Jones does not provide tax or legal advice. This interpretation of tax law is a summarization and should not be depended upon for other than broadly informational purposes. Specific questions should be referred to a qualified tax professional.

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