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1099 Consolidated Statements Update for 2019

Market Alerts |

As we enter the tax season once again, we would like to remind everyone that we are prepared to assist you and your tax preparer facilitate an expeditious return process.  For the past several years, LPL has provided a consolidated 1099 document per eligible non-retirement account, which includes courtesy cost basis information on 1099-B transactions.  Distributions from LPL-custodied retirement accounts (IRA, SEP, SIMPLE, ROTH, etc.) are reported on form 1099-R, which were issued at the end of January 2019.

Mailings

With few exceptions, all 1099 and 1099-R forms will be mailed between February and mid-March using a staggered mailing schedule. This schedule will be spread over a 45-day period in February and March to eliminate corrected forms for those accounts holding securities that have historically been corrected in February.  Specific dates and deadlines are listed below:

 

2019 Tax Deadlines and Schedules

Date Event
1/31/2019 1099-R Form Mailing/First Wave of 1099 Consolidated Forms Mailing

 

2/15/2019 Second Wave of 1099 Consolidated Forms Mailing

 

2/19/2019 Preliminary 1099 Consolidated Tax Statement

 

3/1/2019 Third Wave of 1099 Consolidated Forms Mailing

 

3/15/2019 Fourth Wave of 1099 Consolidated Forms Mailing

 

4/15/2019 IRS Tax Filing or Extension Request Deadline

 

10/15/2019 IRS Extension Tax Filing Deadline

 

 

Online Tax Statements

You can access the AccountView Website to view or download tax statements at the same time they are mailed. Click on the Statements tab and select “Tax Statements” under the Statement Type dropdown menu. Your screen will automatically refresh, and you’ll need to select your desired tax year under the Tax year dropdown menu.

Turbo Tax

You can also download your 1099-R and 1099 Tax Information Statement from LPL through Turbo Tax. You’ll need a valid Account View username and password to access your information. The data will contain the latest information from our system, including cost basis and any revisions that may have been applied. If you’re not sure if you have Account View access, please contact our office and we can assist you.

Working With Your Tax Preparer

We are happy to send electronic copies of 1099s and related materials directly to your tax preparer via secure email once they become available to us.  If you would like to set up or adjust an arrangement, please contact our office at your convenience–we will need to have you sign an authorization in order for us to release tax information directly to your tax preparer.

For those of our clients with whom we have prior standing arrangements, we will continue to provide information to your tax preparer upon their request unless you instruct us otherwise.

Please call our office 617.530.1010 with any questions.

Best,

Winthrop Wealth Management

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Securities offered through LPL Financial, Member FINRA/SIPC. Investment Advice offered through Winthrop Wealth Management, a Registered Investment Advisor and separate entity from LPL Financial.