As you begin to prepare your taxes for 2023, please make sure you have everything you need. Remember that you will probably receive 2 tax forms for your accounts: TD Ameritrade will provide tax forms for transactions through early September (Labor Day), and Schwab will provide tax forms for transactions for the rest of 2023.

1099-R

  • For distributions from your retirement accounts. If you had distributions throughout 2023, you will receive 1 from TD Ameritrade and 1 from Schwab. If you only took out 1 lump-sum distribution in 2023, you will only get 1 tax form from either TD Ameritrade or Schwab. If you had a retirement account but no distributions during those timeframes, you will not receive a 1099-R.
  • Available January 2024. These were either mailed to you or available electronically, depending on your account preferences, in January. You should already have these forms.

1099 Composite / 1099 Consolidated (this includes 1099-INT, 1099-DIV, 1099-B Capital gains/losses)

  • For any interest, dividends, or capital gains/losses in your Individual or Joint taxable Investment accounts. If you held funds in a non-retirement account, you will receive 1 from TD Ameritrade and 1 from Schwab.
  • Available mid-to-late February 2024. These will either be mailed to you or available electronically, depending on your account preferences, by the end of this month. Note that sometimes you will get a corrected 1099 form in early March, if required by the investments held in those account.

5498

  • For contributions to your IRAs. If you contributed to a Roth or Traditional IRA, you will get a 5498.
  • Available in mid-to-late May 2024. Since 2023 contributions could come in as late as April 15, 2024, this form isn’t available until May. If you aren’t sure of your contributions for 2023, please contact Tracie, Melinda, or your advisor and we can tell you your amount (you don’t need the actual tax form to report your contributions and file your taxes).

If you have any questions, please let us know and we’ll help you locate your tax forms.

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