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Why did I receive two 1099s for the same account this year?

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. 

 

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This article is not intended as tax advice, and Wealthfront does not represent in any manner that the outcomes described herein will result in any particular tax consequence. Prospective investors should confer with their personal tax advisors regarding the tax consequences based on their particular circumstances. Wealthfront assumes no responsibility for the tax consequences to any investor of any transaction. 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.