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When should brokers issue 1099s for 2012 tax year?

I am waiting for a 1099 to complete tax returns for an estate. The original broker filed for bankruptcy. The account was acquired by another broker who doesn't appear to have a good reputation for accurate statements.

The 1099s for 2011 tax year looked reasonable. If there are any mistakes, they are minor. Since they aren't planning on issuing any corrected 2011 1099s, I am not going to worry about it.
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When should brokers issue 1099s for 2012 tax year?

They are supposed to be sent to account holders by February 15.


--Peter
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When should brokers issue 1099s for 2012 tax year?

They are supposed to be sent to account holders by February 15.


Correct, BUT... many have already asked for and received extensions to February 28.

Ira
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When should brokers issue 1099s for 2012 tax year?

Also waiting for my Fidelity brokerage 1099.
I just talked to my Premium Service and was informed that they expect to send out this week. Possibly Tuesday.
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Also waiting for my Fidelity brokerage 1099.

I have received 1099s from Fidelity. It might already be posted on the website.
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I had my Fidelity 1099 online on January 25 and the hard copy on January 29. I hold only stocks and Fidelity funds in the account. If your is being delayed it may be because you hold funds from other companies. There's been a problem for years with getting information from one mutual fund company to another in a timely manner. If you follow this board you've seen the stories from people having to file amended returns because of this. That's one reason IRS extended the 1099 mailing deadline to February 15.
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I had my Fidelity 1099 online on January 25 and the hard copy on January 29. I hold only stocks and Fidelity funds in the account. If your is being delayed it may be because you hold funds from other companies. There's been a problem for years with getting information from one mutual fund company to another in a timely manner. If you follow this board you've seen the stories from people having to file amended returns because of this. That's one reason IRS extended the 1099 mailing deadline to February 15.

I commented that I had not received my Fidelity Brokerage 1099 for 2012.
Maybe I should have said Fidelity Taxable account 1099. I did receive my Fidelity IRA 1099R and form 5498 in January, but not my taxable 1099.
With your comments above I should have no problems for delay. My taxable account has only one stock, BRKB, thus no divedends, and only 0.08 cents of interest. There were some BRBK stocks sold, all with long term capital gain, (the basis of which were specified). I have all the data I need to prepare my taxes but wanted to wait for 1099 to be certain I have checked all proper boxes.
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There were some BRBK stocks sold, all with long term capital gain, (the basis of which were specified). I have all the data I need to prepare my taxes but wanted to wait for 1099 to be certain I have checked all proper boxes.

One of the drawbacks of basis reporting is that even if the broker has all the necessary information they may not report it if they're not required to. Thus you have to wait to find out whether it's an A or a B. Progress. <sigh>

Phil
Rule Your Retirement Home Fool
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Maybe I should have said Fidelity Taxable account 1099. I did receive my Fidelity IRA 1099R and form 5498 in January, but not my taxable 1099.

Fidelity has a large number of 1099s to produce. I recently received my Fidelity 1099 for a taxable account. It is likely that Fidelity is just working through processing, and you will have your 1099 soon.

Unlike a different account that I have, it doesn't appear that Fidelity has any software issues delaying issuing of 1099s.
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Why not check your account on their web site? Even if the paper has not arrived there may well be a pdf with the information you can view and print.
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Why not check your account on their web site? Even if the paper has not arrived there may well be a pdf with the information you can view and print.

Thanks, but I have been checking the Fidelity Web site every day since the last week in January. Last check 2 minutes ago and still no 1099.
My last phone call to them said would be out this week.
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I have been checking the Fidelity Web site every day since the last week in January. Last check 2 minutes ago and still no 1099.
My last phone call to them said would be out this week.


Why am I reminded of the guy tailgating me because he thinks somehow that's going to make the guy in front of me go faster? Didn't someone mention that they're not even due until the 15th? Go take a walk.

Phil
Rule Your Retirement Home Fool
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check theie website. some firms have until 02-15 to crank out 1099's.
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check theie website. some firms have until 02-15 to crank out 1099's.

All firms have until 2/15. Some have even longer.

Ira
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