Menu

Updated

Which tax documents will I receive for my account?

For individual, joint and trust (non-retirement) accounts, you will receive a Consolidated Form 1099 including details of dividends paid (Form 1099-DIV) and security sales (Form 1099-B), if there were any such transactions in your account for that tax year. If there were no security sales or dividends paid into your account, you will not receive a Form 1099. This is most often the case if you opened the account near the end of the year. Most likely this form will be available around the third week of February.  We'll email you as soon as it is available.

Retirement accounts, including Traditional, Roth and SEP IRAs, will receive a Form 1099-R only if a distribution (withdrawal) was made during the year. If you made contributions (deposits) to your IRA account for the tax year, you will receive a Form 5498 detailing those contributions in May. If you made no contributions to your IRA for the year and took no distributions, you will not receive tax documents for your retirement account. 

You can contribute to an IRA or Roth IRA account for the previous year up until the April tax filing deadline, so these forms won't be available until the end of May or possibly later, but you should still include any IRA or Roth IRA contributions when filing your taxes. Read more about Form 5498 for IRAs here.

For 529 College Savings Plan accounts with any distributions/withdrawals, we’ll post a 1099-Q.

Corporate accounts are reported according to the tax classification of the corporation (e.g., C-Corp, S-Corp, Single-member LLC) you selected when opening the account. Any applicable tax documents generated for your corporate account will be posted to your Taxes & Documents page. For many corporate tax classifications, the IRS requires that the corporation report any taxable transactions directly, in which case you will not receive a Form 1099 or similar document from Wealthfront. Instead, your accountant or tax preparer will likely rely on the detail provided in your monthly account statements and/or trade confirmations, also available on your Taxes & Documents page.

Nothing in this blog should be construed as tax advice, a solicitation or offer, or recommendation, to buy or sell any security. Financial advisory services are only provided to investors who become Wealthfront Inc. clients pursuant to a written agreement, which investors are urged to read carefully, that is available at www.wealthfront.com. All securities involve risk and may result in some loss. For more information please visit www.wealthfront.com or see our Full Disclosure. While the data Wealthfront uses from third parties is believed to be reliable, Wealthfront does not guarantee the accuracy of the information.

Was this article helpful?