Earlier this year we brought our brokerage and banking platform in house from Apex Clearing to provide a better client experience. If you had a Wealthfront account before we made the move you will receive two 1099s - one from Apex Clearing detailing activity for the first half of the year and another from Wealthfront detailing activity for the second half of the year. You should report both 1099s when filing your taxes. Going forward you should only receive one 1099 from Wealthfront.
Please note that the turbo tax download and the CSV download will include the tax information from both 1099s.
Wealthfront prepared this article for informational purposes and is not intended as tax advice nor as an offer, recommendation, or solicitation to buy or sell any security. Wealthfront does not represent that any strategy will result in any of the outcomes described, including the effectiveness of any strategy in reducing tax liability, as this depends on an investor’s specific tax and investment profile. Investors are encouraged to consult their personal tax advisors regarding their unique circumstances and any outcomes/consequences that may result from any investment strategy. Investors and their personal tax advisors are responsible for how the transactions in an account are reported to the IRS or any other taxing authority.
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Financial advisory, planning, and investment management services are offered by Wealthfront Inc. (“Wealthfront”), an SEC registered investment adviser. Brokerage products and services offered by Wealthfront Brokerage Corporation, member FINRA / SIPC, and a wholly-owned subsidiary of Wealthfront.