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Tax Forms

1099 Consolidated Tax Form

1099 Consolidated Tax Forms (“1099s”) are issued by our clearing firm: Apex Clearing Corporation. Accounts with greater than $10.00 in dividend and/or interest income or that have qualified trading activity (includes options trades) qualify for a 1099. The information reported to the IRS is found in the 1099.

Income and reportable transactions are listed in the following types:

  • 1099-B (Proceeds From Broker and Barter Exchange Transactions)
  • 1099-DIV (Dividends and Distributions)
  • 1099-INT (Interest Income)
  • 1099-OID (Original Issue Discount)
  • 1099-MISC (Miscellaneous)

1099-R Form | Distributions from Retirement Accounts

The 1099-R is used to show distributions from a Traditional or Roth IRA. The information provided includes the total distribution amount, the distribution code(s), and any federal or state tax withholding that may have been requested at time of withdrawal.

5498 Form | Contributions to Retirement Accounts

The 5498 form is used to show amounts deposited to a Traditional or Roth IRA for the previous tax year. For Traditional IRA account holders who have reached the age of 70.5 years, the 5498 form is sent to show the fair market value of the IRA account in order to calculate the Required Minimum Distribution.