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For E*Trade specifically, the first page of the consolidated 1099 has a table-of-contents pointing to the equivalents of the various forms, and a note about which forms you didn't get. Starting on page 3, it has the forms, although they're in table format, with the box number in the first column, description in the 2nd, and amounts in the 3rd. I find this preferable and much more readable than the IRS forms. After the forms are the details that went into populating the forms, which you can ignore, or use to reconcile with your records and use for future planning. Overall, I like the way E*Trade does it, although if it's your first time seeing one, it will take some studying.

Brian
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We find that our 1099s from brokerages often don't come in until the end of February.

IP
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Many banks and brokers have received permission from the IRS to use substitute 1099 forms. They contain all of the information included in the official forms. Brokers, in particular, will consolidate all of the various 1099 forms they might need into a single document. If you read their consolidated 1099 carefully, you'll find various sections labeled 1099-DIV, 1099-INT, 1099-B, 1099-MISC and possibly a couple of others.

If you are using a tax preparer, just bring that whole package, including the boilerplate instruction pages. The pages are undoubtedly numbered something like "Page 3 of 8". It's very annoying as a tax pro to get only a few of the known number of pages. You don't know what is missing on the pages which weren't included.

If you are preparing your own return, that consolidated 1099 is all you need. There is no reason to copy the information on to the official versions of the various 1099s. You should not mail these 1099s with your tax return. The IRS does not want them.

--Peter
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Great. Thanks for the info. I appreciate it!

Footsox
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ptheland,

Wrote, The pages are undoubtedly numbered something like "Page 3 of 8". It's very annoying as a tax pro to get only a few of the known number of pages. You don't know what is missing on the pages which weren't included.

As an example, the Consolidated 1099s I get from Fidelity have a section titled Supplemental Stock Plan Lot Detail that provides details from the sales from my ESPP plan that are not reported on my 1099-DIV; but are very important when filing my tax return. In particular it shows the corrected Discount amount based on the holding period and how much I should adjust the cost basis of the lot that was sold.

I have access to the information necessary to calculate these values for myself; but a tax preparer would not. And in any case Fidelity has already done the math for me, so this section of my Consolidated 1099 makes preparing my return much simpler … and would greatly reduced the number of follow-up questions a CPA or tax preparer might have too.

Also the sections on a Fidelity Consolidated 1099 are clearly marked and the reported values are numbered so as to matched the standard 1099-DIV, 1099-B and 1099-INT forms filed with the IRS. This makes it pretty simple to transcribe values from my Consolidated 1099s into tax software.

- Joel
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Also the sections on a Fidelity Consolidated 1099 are clearly marked and the reported values are numbered so as to matched the standard 1099-DIV, 1099-B and 1099-INT forms filed with the IRS. This makes it pretty simple to transcribe values from my Consolidated 1099s into tax software.

Fidelity consolidated 1099s import to TurboTax, and presumably to any other tax software that imports electronic forms. All I had to do with mine was proofread the information and manually calculate how much of the non-qualified dividends were interest from federal obligations. That manual calculation is not be needed if you live in a state without income taxes.
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I can't speak of E-Trade, but Fidelity has delayed their consolidated 1099-DIV to Feb 28. The reason is they are awaiting dividend info from ETFs, who in turn are awaiting all dividend data from the the stocks, particularly REITs, they are holding. The final Reg from the IRS on the new 199A dividends has only been out a few weeks.

Due to the large number of REITs I hold, I'm not going to file until the first week or so of April, as I really don't want to have to file an amended return if (when?) I get delayed 1099-DIV corrections.

BruceM
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Please explain to a dumb kid from Galveston how cum Fidelity, E-Trade, etc no longer have a deadline of January 31st to mail out 1099's. They basically can mail them out when they get around to it. We, on the other hand, still have to file by April 15th.

Sounds to me like we're getting squeezed in the middle. Oh, by the way, if you own a REIT they can mail their 1099 any time they feel like it. Lot's of times weeks after you've filed prompting an amended return.

Just wonder'in.

Regards,

ImAGolfer
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Please explain to a dumb kid from Galveston how cum Fidelity, E-Trade, etc no longer have a deadline of January 31st to mail out 1099's.

Too many corrected 1099s. Brokerages simply don't have the information by end of January to issue accurate 1099s.

The deadline to issue the 1099-B, 1099-INT and 1099-DIV has been changed to later dates. Brokerages are in compliance with the new deadlines but also can request an additional delay. Even with the later deadlines not all managers of specific investments provide brokerages with complete information by the required deadline.
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The deadline for most 1099s is now Feb 15. And they can get permission to send them later the same way you can - by requesting an extension.

—Peter
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BruceCM,

You wrote, I can't speak of E-Trade, but Fidelity has delayed their consolidated 1099-DIV to Feb 28. …

And yet I got 3 Consolidated 1099s from Fidelity on January 29th.

Of course I'm still waiting on one from my Merrill Edge account. Merrill is currently estimating February 26th on that account. And yes, I have a REIT index fund in that one. ;-)

And yes, my Fidelity 1099s were probably in some ways simpler to prepare with few dependencies.

- Joel
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And yet I got 3 Consolidated 1099s from Fidelity on January 29th.

Received our Consolidated 1099s from Fidelity yesterday.

A 1099-B from a different broker is just plain wrong. Double reporting of a sale because they made a mistake and cancelled the sale but are still reporting the cancelled sale. This is going to be fun to have fixed.

Still waiting for Merrill Edge 1099 and the estimate is also Feb 26th.
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Merrill is currently estimating February 26th on that account.

Could be worse. Energy Transfer Partners is currently estimating "End of March" to issue their 2018 K-1's...

Draggon
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We got all of our 1099s from UBS except for one account, which is not even showing one available on-line. Need to call tomorrow to find out what's up. Amazes me how much one has to stay on top of these companies.

IP
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I have been with eTrade for many years, since long before they were "eTrade". On 12 FEb 2019, I received an email from them which reads in part

Just a quick heads-up that a Form 1099 tax document for your E*TRADE Securities brokerage account is in the mail. You can also view and print an official copy now in the E*TRADE Tax Center (log on required).

The snailmail has not yet arrived but meanwhile I downloaded the 1099 pdf and appropriate IRS and state forms and begun preparing my taxes.

As eTrade receives more info over the coming weeks between now and 15April, and maybe even after 15April, they will issue revised 1099s as appropriate. For instance, in tax year 2015, thers were three corrected 1099s.

Therefore, in anticipation of these possible delays, I usually submit a request to the IRS for an extension of time to file. Not a big deal.
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My Etrade 1099 combined was viewable online on Feb 10, and available for import to TT on Feb 15.
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re Fidelity - my two consolidated 1099's are complete as of 2/16

they were delayed due to late info for some ETFs and PTPs as you described but it is customer-specific

all three of my brokerage firms are doing "progressive" 1099s where they issue them several times as the dividend info comes in:
1/31
2/16
2/28
etc
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For instance, in tax year 2015, thers were three corrected 1099s.

The number of corrected 1099s has significantly dropped since 2015. It is investment dependent. I haven't had corrected 1099s for the last two years.

This year I am working on having a very wrong 1099 corrected. Knowing that it was the financial adviser trying to help which created the problem makes it more annoying.
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Could be worse. Energy Transfer Partners is currently estimating "End of March" to issue their 2018 K-1's...

Pffft, posers. :-) In 2015 I got a corrected 1099 on September 30th.

Brian
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For E*Trade specifically, the first page of the consolidated 1099 has a table-of-contents pointing to the equivalents of the various forms, and a note about which forms you didn't get. Starting on page 3, it has the forms, although they're in table format, with the box number in the first column, description in the 2nd, and amounts in the 3rd. I find this preferable and much more readable than the IRS forms. After the forms are the details that went into populating the forms, which you can ignore, or use to reconcile with your records and use for future planning. Overall, I like the way E*Trade does it, although if it's your first time seeing one, it will take some studying.

Brian
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In 2015 I got a corrected 1099 on September 30th.

I got a corrected 1099 for 2016 in March, 2018. Filed an amended return for an $11 additional refund, and the IRS paid me $0.55 of interest that I will declare on my 2018 return.

I know what caused the very late corrected 1099, but there is no way I could have predicted it would happen.

Patzer
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