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Lost in Tax Form 1099? Let Us Guide You Through

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January 18, 2017
Lost in Tax Form 1099? Let Us Guide You Through

In a Chapman University survey of their fears, Americans included public speaking, heights, flights, snakes, ghosts, clowns…and zombies. Tax forms didn’t make the top 10, but we’re guessing they’re close behind. Understanding tax forms can be overwhelming for many people. But have no fear: the TD Ameritrade 1099 Information Guide can help. We’ve designed it to escort you through the numbers and notations of your Consolidated Form 1099.   

Why the Guide?

Our Consolidated Form 1099 is provided for tax reporting purposes. Combining five separate 1099 forms into one form, it covers reportable income and transactions for the tax year, enabling you to have all that information about your account in one document – from interest income to investment expenses, royalties to REMIC. But all that information can be intimidating.

That’s where the Guide comes in. We created it to help you streamline your tax preparation and clarify some elements of the Consolidated Form 1099 that may be confusing. It breaks the form into individual sections, with clear graphics and an easy-to-understand look at what each section contains – and just what those complicated references mean.

Inside the Guide

In creating the Guide, we looked at common questions clients had in the past about the Consolidated 1099 and used them to develop explanations to assist you in following the material in the form. Images from the 1099 illustrate specific examples, with details to explain many different scenarios.

Reporting Requirements for Brokerages. What brokers like TD Ameritrade have to report to the Internal Revenue Service (IRS) can differ from the reporting requirements of individual investors. The Guide shows you what items and information brokerage firms need to report, to help you understand the numbers reflected on your 1099 form. 

Changes. The Guide highlights differences from last year’s Consolidated Form 1099, as well as new sections that have been added to the form. A special “What’s new” heading on the front page calls attention to the most significant updates.

Questions? We’ve Got Answers. You’ll find an FAQ in the Guide, which may address particular concerns you have about the form. And the interactive table of contents offers fast navigation.

This article is an update of the original Lost in Tax Form 1099? Let Us Guide You Through published on February 5, 2016.

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