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Old 02-17-2016, 07:09 AM   #21
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We got notification that our Fidelity brokerage tax form was available on Friday Feb 12, and so downloaded it. It was the last we were waiting for.

We have a lot of non-Fidelity mutual funds.

One Fidelity piece still missing - they haven't post their mutual fund specific foreign tax info for 2015 yet. Need it for the foreign tax credit calcs.
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Old 02-17-2016, 12:46 PM   #22
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One of the reason that I like having my mutual funds held directly at Vanguard -- not in any type of brokerage account. I think I had electronic access to the 1099-DIV before 1/31.

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Old 02-17-2016, 07:19 PM   #23
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My son rolled over his 401k into a ROTH IRA. FIDO has not yet prepared any 1099s for him. PITA for dear old dad.
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Old 02-18-2016, 04:55 AM   #24
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My son rolled over his 401k into a ROTH IRA. FIDO has not yet prepared any 1099s for him. PITA for dear old dad.
If the new Roth IRA is his only FIDO account, I would not expect a 1099 from FIDO this year--just a 5498 a few months after April 18 to reflect rollovers and contributions for the prior year.

He should have received a 1099R from his 401k administrator already assuming that the request to the 401k was processed on or before Dec 31.

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Old 02-18-2016, 06:22 AM   #25
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My son rolled over his 401k into a ROTH IRA. FIDO has not yet prepared any 1099s for him. PITA for dear old dad.
I rolled over a Fidelity 401(k) and got my 1099-R a while ago from them in the mail.
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Old 02-18-2016, 12:03 PM   #26
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If the new Roth IRA is his only FIDO account, I would not expect a 1099 from FIDO this year--just a 5498 a few months after April 18 to reflect rollovers and contributions for the prior year.

He should have received a 1099R from his 401k administrator already assuming that the request to the 401k was processed on or before Dec 31.

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His 401k administrator is Fido, and it was rolled into Wells Fargo Roth. No 1099r or 5498 yet

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Old 02-18-2016, 12:23 PM   #27
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This seems to fly in the face of the frequently heard "Vanguard is cheaper for a reason" statement.
+1. And this, seems to fly in the face of what the word "deadline" means:

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We understand that it can be inconvenient to receive your tax form(s) after the February 16 IRS deadline.
What comes after "deadline"? Is there any stronger language?

BTW, I think this situation could be improved if Congress were required to freeze the tax laws, requirements and forms on the first day of that tax year. There is no reason that we shouldn't know what the laws/requirements are for 2016 at the start of 2016 - not late in the year, or next year. It's almost like being able to modify a contract after the fact. Actually that's exactly what it is.

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Old 02-18-2016, 01:36 PM   #28
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What comes after "deadline"? Is there any stronger language?
extension ?
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BTW, I think this situation could be improved if Congress were required to freeze the tax laws, requirements and forms on the first day of that tax year. There is no reason that we shouldn't know what the laws/requirements are for 2016 at the start of 2016 - not late in the year, or next year. It's almost like being able to modify a contract after the fact. Actually that's exactly what it is.
This delay is not result of late changing tax regulations. That would affect the release of tax preparation SW but should have no impact on brokerage reporting. Here Fidelity is the intermediary, they collect and report, and when information they collected is subsequently changed they incur the cost of reporting again. They may be anticipating delay, or simply taking an easier route to satisfy minimum reporting requirements.
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Old 02-18-2016, 01:40 PM   #29
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A couple of times in the past I've filed my taxes, then received a corrected 1099 a few days later that materially altered my return, meaning I had to file an amended one. I would MUCH rather have them get an extension.
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Old 02-18-2016, 03:04 PM   #30
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Received the same Mar 17 email. Supposedly I may have the electronic copies available, but not sure if there could be changes so I can wait a bit. Plus looking like I will owe some, so not exactly in a hurry to finish.
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Old 02-18-2016, 05:23 PM   #31
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None of my 1099B's, three companies, were available until right upon the deadline. Fido, before the weekend, and the others after the weekend.

I was actually thinking of posting a thread to ask if there was a reason for the foot dragging on the 1099B's.

Has anyone heard of any IRS "guidance" on delaying? Why would the 1099B's be universally published at the last possible moment before getting an extension?
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Old 02-18-2016, 05:50 PM   #32
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I just received this email from Fidelity
Is it me or is this getting worse each year?
I already downloaded my fido tax forms... maybe just you. Don't have schwab forms yet.
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Old 02-19-2016, 04:18 AM   #33
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fidelity says preliminary when i looked
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Old 02-19-2016, 06:57 AM   #34
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I enjoyed seeing "de minimus" stamped across one of my fidelity 1099s in big letters. Had to look it up to be sure. It means too little income to send form into IRS.
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Old 02-19-2016, 07:18 AM   #35
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I never file until early April so not concerned if its mid March before forms are ready. Not fond of amended tax returns due to corrected tax forms. That has happened to me. So I wait as a precaution......
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Old 02-19-2016, 07:20 AM   #36
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A couple of times in the past I've filed my taxes, then received a corrected 1099 a few days later that materially altered my return, meaning I had to file an amended one. I would MUCH rather have them get an extension.
A valid point, I agree.
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Old 02-19-2016, 07:22 AM   #37
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I enjoyed seeing "de minimus" stamped across one of my fidelity 1099s in big letters. Had to look it up to be sure. It means too little income to send form into IRS.
yes, but you are still suppose to file the too small on your taxes. It does not mean too small to file.
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Old 02-19-2016, 07:26 AM   #38
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yes, but you are still suppose to file the too small on your taxes. It does not mean too small to file.
Of course.

And that was only one of 3 1099s.
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Old 02-19-2016, 07:47 AM   #39
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I never file until early April so not concerned if its mid March before forms are ready. Not fond of amended tax returns due to corrected tax forms. That has happened to me. So I wait as a precaution......
I like getting mine early. I input the info into the tax program as the forms come in. Often there is info you need to hunt for like state tax exempt portion of a muni fund distributions. Also sometimes you may need to hunt for K-1 or the like for MLPs (that looks like a stock) or ETF that invests in things like commodities (even if they are in IRAs). These may not be provided by your broker.
But I also wait until sometime in April to actually file. I have a couple times had corrections to my tax forms after filing. Sometimes these came after the filing date... thus I had to file an amended return. I guess I could have initially filed for extension so I did not have to file an amended return, but I think waiting until early April or just before the due date is likely good enough. I have found the number of corrected forms have been dropping in recent years. I think I only had one 1099 corrected last year.
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Old 02-19-2016, 07:59 AM   #40
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Of course.

And that was only one of 3 1099s.
I only got one "de minimus" 1099 and a couple that just did not sent 1099's because the interest was of a level that would be "de minimus". I looked up those and filed those also.
Personally I would like not seeing the "de minimus".... it just means I did not make much on the assets (or possibly had little $ in it I guess). I would rather be getting a decent return.
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