Questions about Edward Jones tax forms

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At Edward Jones, we want your tax preparation to go as smoothly as possible. These are some of the most common questions we hear from clients during tax season.

Important: Before printing your tax forms review our guidance on: Preventing Black Boxes When Printing Tax Forms (PDF)

For other questions about how to view, print or download your tax forms, click here.

Edward Jones tax forms

How will your tax forms be delivered to you?

There are two primary methods you can receive your 1099s and other important tax documents:

  • If you have Online Access and have accepted new terms and conditions from August 2020:
    • You will automatically receive all your tax documents via e-delivery.
    • Additionally, clients who signed up for paper delivery prior to these changes or chose on the Document Options page within Online Access to get duplicate paper copies in the mail, will receive tax documents via e-delivery and in the mail.
  • Clients without Online Access get their tax documents in the mail. This still applies even if a client is in the same mailing group as someone with Online Access.

When does Edward Jones provide tax forms?

While we can't provide the exact date we will furnish your final tax form to you, the following information may help you estimate when you will receive your form.

IRS deadlines for furnishing tax forms

The The Internal Revenue Service(IRS) requires Edward Jones to furnish Forms 1099-R and 1099-Q by January 31 each year and Consolidated 1099 Tax Statements by February 15 each year. The IRS requires us to furnish form 5498 by May 31 each year. Form 5498 is not needed to file a tax return.

Note: As permitted by the IRS, we furnish a small percentage of Consolidated 1099 Tax Statements as Figures NOT Final before the February 15 deadline. We furnish all forms as final by March 15.

Edward Jones tax form production expectations

For the 2021 tax season, Edward Jones expects to furnish tax forms according to the following schedule, which is subject to change:

FORM NAME 

Form 1099-R

Form 1099-Q

Consolidated 1099 Tax Statement (Figures are Final)1

Equities & money market funds

Mutual funds

Fixed-income securities

Unit investment trusts

Consolidated 1099 Tax Statement (Figures Not Final)2

Consolidated 1099 Tax Statement (Figures are Final)3

Form 5498

WEEK OF:

January 18

January 18

 

 

January 11

January 18 & 25

February 1

February 8

February 8

 

 February 15 through March 8

 

May 17

1 Refer to the latest week according to the securities held in 2020. These are guidelines only and not guarantees a form will be produced in a given week.

2For accounts holding more complex securities, it is likely Edward Jones will need to furnish a Figures Not Final Consolidated 1099 Tax Statement. See below for the types of securities that may cause a Figures Not Final tax form to be furnished.

3Figures are Final versions are furnished as the tax reporting information for accounts is finalized. We furnish all remaining Figures are Final forms before March 15.

Why does my tax form say Figures NOT Final?

  • Issuers of some securities may report information to us later in the tax season, which will delay finalized tax forms. We process finalized information as soon as possible and furnish 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:
    • Real estate investment trusts (REITs), foreign securities, later-reporting stocks and mutual funds: Issuers of these securities sometimes file extensions of time to report beyond Feb. 15, so you may not receive your Figures Are Final form until the week of Feb. 15 or later.
    • Collateralized mortgage obligations (CMOs), real estate mortgage investment conduits (REMICs), royalty trusts, unit investment trusts (UITs), HOLDR and mortgage trusts: Issuers of these securities have until March 15 to provide information to brokerage firms, so you may not receive your Figures Are Final form until late March.
  • Your form will indicate the securities for which tax information is not yet final. 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 and process 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.

  • Issuer Revisions: Issuers of your securities may send us revised information after we have issued your Figures Are Final form. When this happens, we send those revisions to you in a Revised Final Figures form.
  • Cost Basis Revisions: Adjustments to cost basis sometimes require us to issue you a Revised Final Figures form. These may occur when we receive revised information from your prior firm, if cost basis is updated or if a cost basis calculation is revised.

Why didn’t I receive a 1099?

The IRS does not require tax forms to be issued for every account at Edward Jones.

  • Income less than $10: We do not furnish tax forms if your taxable brokerage account received less than $10 of reportable income or you took a distribution of less than $10 from your IRA. However, in each case, you may be required to report the income to the IRS. Contact your branch team if you would like a copy of your form for your records.
  • C Corp and tax-exempt accounts: We do not furnish Consolidated 1099 Tax Statements for accounts held by C corporations or tax-exempt entities. Contact your branch team for a copy of a Year-end Tax Summary containing details your tax professional may need.

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.

  • Mutual funds: Dividends from blended funds may be reported on your monthly statement as partially qualified. Mutual fund companies then provide us the breakdown of the income at year-end, and we report parts of the payment in different places on your tax forms, as required.
  • Stocks: Payments originally reported on your monthly statement as dividends may be reclassified by the company, in part or whole, to a nontaxable return of capital. For example, your tax form may show a $100 payment broken into an $80 qualified dividend and a $20 return of capital.
  • Tax year revisions: Income paid to your account during one calendar year may be reportable in a different tax year. For example, your 2020 tax form may include income paid to your account in December of 2019 or January of 2021 if the issuer determined it is reportable in 2020. 

Will I receive Form 5498? And if so, when?

Form 5498 is furnished to you if you made a contribution to an individual retirement account (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 typically furnished in May. The IRS provides brokerage firms until May 31 to furnish Form 5498 in order to capture IRA contributions made until the April 15 deadline. Form 5498 is not needed to file your tax return. Your monthly statements provide the contribution details needed for your tax return. 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.)

Cost basis on Form 1099-B

The 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 security is unknown. The cost basis may be unknown for several reasons, and you can help us update your cost basis by providing some information:

  • Certificate deposited: If you deposited shares by delivering us a certificate, tell your branch team the cost basis of the shares so we can update our system.
  • Transferred: If you transferred shares in from a prior firm, we may not have received cost basis from that firm. Contact your prior firm to have them send us the cost basis.
  • Gifted: The cost basis of gifted shares may depend on the original owner’s cost basis. Obtain the original owner's cost basis information and provide it to your branch team.
  • Inherited: We may know the shares were inherited but not the date of death or the type of adjustment to make for inheritance. Contact your branch team to find out what information to provide.

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 furnished to you unless you instruct otherwise. If you do not want to receive a new form, we still recommend that you provide the cost basis to your financial advisor. This will help ensure your tax forms will have updated 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.

Fixed-income Information

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.

Limited partnerships and royalty trusts

Additional documentation for limited partnerships and royalty trusts is provided by the organizations themselves. Edward Jones has no control over when they become available.

  • Limited partnerships: Partnerships are generally required to file tax returns and provide a Schedule K-1 directly to their limited partners by March 15. The websites www.taxpackagesupport.com and www.partnerdatalink.com provide contact information and online access to Schedules K-1 for various limited partnerships.
  • Royalty trusts: Royalty trusts issue royalty trust booklets containing information needed to file your tax return. These may be issued as late as April. The website www.mytaxhandbook.com provides website links for many royalty trusts.

Corrections

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 Dec. 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.

View, share and download your forms electronically

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:

  • E-delivery: Receive an email notification when your tax form is ready, and retrieve it immediately instead of waiting for it in the mail.
  • Share tax forms: Provide your tax professional with secure electronic access to your tax forms, eliminating the need to deliver or mail your forms.
  • Tax software imports and file downloads: Import your tax information conveniently and accurately into Turbo Tax®, e-Organizer and H&R Block At HomeTM.  In addition, Excel and CSV-formatted downloads are available.

Further questions?

For tax preparation assistance:

Contact a tax professional or the IRS at (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 Edward Jones at (800) 282-0829.

Tax Season Expanded Hours:

  • February 1 - April 15: Monday - Friday, 7 a.m. - 7 p.m. Central time
  • February 20 - April 10: Saturdays, 9:00 a.m. - 2 p.m. Central time

Regular hours: January 31 - April 16, Monday – Friday, 8 a.m. – 6 p.m. Central time

Edward Jones 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 available at the same 800-number above.

Important information:

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.