Knowing what to look for on these fund tax forms can make tax preparation easier. So can learning more about fund-specific tax information and IRS reporting requirements.
Get tax forms
If you have an investment account with us, log in to access your tax forms online. You’ll find Forms 1099-DIV, 1099-B, 1099-R, and other fund-specific tax forms. You’ll need these forms to file your federal and state taxes. Consult with a tax advisor if you have questions about your specific situation.
Changes to the tax status of your earnings, or to your investments’ short- or long-term gains may be noted as reclassifications on your Form 1099-DIV. You might see “return of capital” if your fund paid out more than it earned in a given year. Or the reclassification might be noted as a “nontaxable distribution” because you won’t owe taxes on this money.
“Qualified” dividends are reported in box 1B on your Form 1099-DIV. These dividends may qualify for a lower tax rate. Learn more about this type of dividend and calculate your qualified dividend income percentage here.
Box 10 of your Form 1099-DIV will note any tax-free dividends you earned. Even though these earnings are tax-exempt, you’ll need to report them on your Form 1040 and state tax returns. Earnings may also be subject to AMT, state, or capital gains taxes.
Know your AMT if applicable
The federal alternative minimum tax, or AMT, has its own tax rates, exemptions, and rules. You must compute your AMT tax as well as your “regular” tax and pay the higher of the two amounts. (To make this easier, we report possible AMT taxable income on box 1 of your Form 1099-DIV.)
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This material is provided for general and educational purposes only, and is not intended to provide legal, tax or investment advice. This material does not provide fiduciary recommendations concerning investments or investment management; it is not individualized to the needs of any specific benefit plan or retirement investor, nor is it directed to any recipient in connection with a specific investment or investment management decision.