Broker Check

Form 1099 Information

TAX DOCUMENTS

There are a number of documents you may need to gather in order to prepare your taxes or discuss your tax situation with your financial advisor and tax professional:

❑ Copies of your 2018 and 2019 income tax returns

❑ W-2 from your employer

❑ Brokerage statements (1099-B) and any statements showing investment purchase/sale dates

❑ Dividend and interest statements (1099-DIV and 1099-INT and 1099-OID) - See RJ tax form mailing dates below

❑ Social Security statement (1099-SSA) and/or retirement distributions (1099-R), if applicable 

❑ Statements reporting profits from partnerships, trusts and small businesses (K-1)

❑ Mortgage interest statements (1098)

❑ Student loan interest statements (1098-E)

❑ Receipts or proof of: ❑ Charitable gifts ❑ Medical/dental expenses ❑ Education expenses

❑ Moving expenses

❑ Daycare/childcare costs


RAYMOND JAMES TAX FORM 1099 MAILING DATES

  • All Forms 1099s must be mailed by March 15 regardless of any pending adjustments or income reallocation, per IRS regulations.
  • Amended mailings will occur as needed. There is no cut-off or deadline for corrected 1099 statements. 

Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Raymond James financial advisors do not render advice on tax or legal matters. You should discuss any tax or legal matters with the appropriate professional.


ONLINE DELIVERY

For your convenience, you can choose to receive your tax documents electronically. To go paperless, enroll or log in to Client Access, Raymond James’ secure system for accessing your account information online.

With electronic delivery, you’ll have 24/7 access to your client documents as soon as they become available. Not only will you be able to view your documents sooner, but also, your documents are archived together in one secure location so they are easy to find when you need them.

Tax documents available electronically include the IRS Composite Form (1099-B, -DIV, -INT, -MISC, -OID) and IRS Forms 1099-R, 5498 and 1099-Q.


VIEW OR PRINT YOUR TAX REPORT

You can view your tax reports, along with statements for all of the tax year, by accessing your account online through Client Access. These documents are available in Adobe PDF format, so you are able to print or save them to your own computer. They will be archived in Client Access for 14 years.


EXPORT TAX DATA

Raymond James offers the ability for clients to import data from Raymond James or RJ Bank 1099 tax statements, or to download 1099 information into an Excel format. This allows you to send tax reporting information to tax professionals or upload it directly into tax preparation software.

Raymond James currently has partnerships with the following third-party tax preparation software programs:

Export data from Raymond James or RJ Bank 1099 tax statements:
H&R Block®
TurboTax®

In addition, export data from your Raymond James Form 1099-B found on the composite Form 1099 tax statement:
TaxAct®

Export to Excel - The download contains all reportable activity that corresponds with your tax ID and document ID. This includes Forms 1099-B, 1099-DIV, 1099-INT, 1099-MISC, 1099-OID and 1099-R.


DELAYED COMPOSITE STATEMENT OF 1099 FORMS

In the interest of providing you with the most accurate and-up to-date tax information, Raymond James will delay a Composite Statement of 1099 Forms (1099-B, DIV, INT, MISC, and OID) that they know has pending information from the issuers and will cause an amended form.


Reasons for delay:

Income reallocation related to mutual funds, real estate investment, unit investment, grantor and royalty trusts; as well as holding company depositary receipts

Processing of Original Issue Discount and Mortgage Backed bonds

Expected cost basis adjustments including but not limited to accounts holding fixed income securities and options 


AMENDED FORM 1099s

Even after delaying your Form 1099, please be aware that adjustments to your Form 1099 are still possible. Raymond James is required by the IRS to produce an amended Form 1099 if notice of such an adjustment is received after the original Form 1099 has been produced. There is no cutoff or deadline for amended Form 1099 statements. The following are some examples of reasons for amended Form 1099s:

Income reallocation

Adjustments to cost basis (due to the Economic Stabilization Act of 2008)

Changes made by mutual fund companies related to foreign withholding

Tax-exempt payments subject to alternative minimum tax

Any portion of distributions derived from U.S. Treasury obligations

If you receive an amended Form 1099 after you have already filed your tax return, you should consult with your tax professional about the requirements to re-file based on your individual tax circumstances.


FOR ADDITIONAL INFORMATION

We want to ensure that your tax preparation goes as smoothly as possible. Please contact your Client Relationship Manager if you have questions, or find additional information at https://raymondjames.com/wealth-management/why-a-raymond-james-advisor/client-resources/tax-reporting.

Client Relationship Managers:

In Sioux Falls: 605-357-8553

Lead Client Relationship Manager, Shannon Naser, extension 205, shannon@mycfsgroup.com

Domenica Mills, extension 207, domenica@mycfsgroup.com

 In Huron: 605-352-9490

Stephanie Gerrits, extension 102, stephanie@mycfsgroup.com

Lorenda Grace, extension 107, lorenda@mycfsgroup.com

Andrew Ulvestad, extension 112, andrew@mycfsgroup.com

Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. While we are familiar with the tax provisions of the issues presented here, Raymond James Financial Advisors do not render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.