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02-16-2016, 08:48 AM
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#1
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,708
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Fidelity tax forms
I just received this email from Fidelity
Quote:
Update: Your 1099 tax form will be available by March 17
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Is it me or is this getting worse each year?
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02-16-2016, 08:51 AM
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#2
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Full time employment: Posting here.
Join Date: Dec 2003
Location: San Carlos, CA
Posts: 638
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I downloaded my Fidelity 1099 during the last week of January. But now you mention it, I haven't received the paper one yet.
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02-16-2016, 08:56 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: ATL --> Flyover Country
Posts: 6,649
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Wow, that is pretty bad. I saw that my VG tax forms are now available....but not sure when they were made available. It's before the end of February, so that's pretty good in my opinion.
__________________
FIRE'd in 2014 @ 40 Years Old
Professional Retiree
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02-16-2016, 09:17 AM
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#4
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gone traveling
Join Date: Apr 2011
Posts: 3,375
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I got a preliminary online & will work from that. But, I don't know how they legally get away with that. I thought they were under a Jan. 31 IRS deadline.
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02-16-2016, 09:20 AM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2011
Posts: 8,410
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They're always my hold-up on filing...PITA
TRPrice got theirs out mid/late-January.
__________________
Living well is the best revenge!
Retired @ 52 in 2005
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02-16-2016, 09:22 AM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: ATL --> Flyover Country
Posts: 6,649
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Quote:
Originally Posted by gerntz
I got a preliminary online & will work from that. But, I don't know how they legally get away with that. I thought they were under a Jan. 31 IRS deadline.
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I keep seeing "should" as opposed to "shall"...there is a big difference. The only one that I see list that is past Jan 31 is the 1099B which is Feb 15th.
__________________
FIRE'd in 2014 @ 40 Years Old
Professional Retiree
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02-16-2016, 09:32 AM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,327
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I got my 1099s from Fido in late Jan and they were available online mid month.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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02-16-2016, 09:37 AM
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#8
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,743
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Quote:
Originally Posted by jazz4cash
I got my 1099s from Fido in late Jan and they were available online mid month.
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+1
All of my holdings are in Fido Mutual funds so I wonder if that makes a difference in how quickly you get your 1099s
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02-16-2016, 09:40 AM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
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I hold only ETFs at Fidelity and I got my 1099-DIV last week. I made no buy/sell transactions, so I will not get a 1099-B from Fidelity under any circumstances.
I have all my 1099-DIV and 1099-B and 1099-R from all my financial institutions. They all appear to be correct and match my own records.
And I believe they are not required to get to one before the end of February nowadays because financial places can request an automatic 30 day extension without any reason. Even longer extensions are permitted with reason, too.
So what would you rather have: A 1099 at end of January and a corrected one in March? Or an accurate one in March?
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02-16-2016, 09:44 AM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2013
Posts: 11,078
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Quote:
Originally Posted by MichaelB
I just received this email from Fidelity
Is it me or is this getting worse each year?
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It varies by year. I w*rked for a transfer agent that did tax reporting. Every year was a new adventure. The IRS says the format of data needs to change, well it's impossible to get clarity from them as they literally don't return phone calls or answer the phone. Took me three months to get the simplest questions answered the year it was mine to screw up, er manage the project.
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02-16-2016, 09:54 AM
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#11
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,708
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They clearly state they have requested an extension. So the mid-February required date is a "shall" with an out. Non-Fido brokerage holdings are the cause. The email reads:
Quote:
We understand that it can be inconvenient to receive your tax form(s) after the February 16 IRS deadline. However, we believe that taking advantage of an IRS extension and sending your tax form(s) later will reduce the possibility of tax form corrections and reduce the need for an amended tax filing.
In the meantime, we have provided you with a preliminary tax form on Fidelity.com that shows the most up-to-date information we have received from issuers on your account holdings.
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By coincidence, Vanguard just sent an email stating that their consolidated 1099 (the one for non-Vanguard holdings) is ready.
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02-16-2016, 10:01 AM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Quote:
Originally Posted by MichaelB
They clearly state they have requested an extension. So the mid-February required date is a "shall" with an out. Non-Fido brokerage holdings are the cause. The email reads:
By coincidence, Vanguard just sent an email stating that their consolidated 1099 (the one for non-Vanguard holdings) is ready.
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This seems to fly in the face of the frequently heard "Vanguard is cheaper for a reason" statement.
__________________
Numbers is hard
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02-16-2016, 10:32 AM
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#13
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Thinks s/he gets paid by the post
Join Date: Jul 2013
Posts: 1,884
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My combined 1099 was available on 2/12.
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02-16-2016, 10:55 AM
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#14
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Thinks s/he gets paid by the post
Join Date: Jul 2013
Posts: 1,046
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I read somewhere the timeline for all investment banks to provide tax docs was 2/15/2016 but it being a holiday it was extended to 2/16/2016. I think I got all, the long pole was Scottrade for me but I got that yesterday. Fidelity is all IRA for me (a few decades away from being used) so I don't bother reporting any of that.
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02-16-2016, 11:24 AM
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#15
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,212
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Schwab still has Feb 26th listed on their website. It's the last piece I'm waiting for.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
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02-16-2016, 11:29 AM
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#16
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Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,349
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My Fidelity 1099 was available for download three days ago, but my holdings are pretty simple.
I now have everything except the Schwab 1099, but they do tend to drag their feet.
Some
Customers
Have to
Wait
A
Bit.
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02-16-2016, 12:25 PM
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#17
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2011
Posts: 8,410
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This is one of the main reasons I dumped an MLP. Had to wait until the end of March for a K1.
__________________
Living well is the best revenge!
Retired @ 52 in 2005
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02-16-2016, 12:25 PM
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#18
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,124
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I only have 1099-R's for Fidelity which I have, but this did prompt me to check Vanguard, and all the 1099's are there online including those for the ETF's.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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02-16-2016, 12:44 PM
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#19
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,695
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Quote:
Originally Posted by Corporateburnout
+1
All of my holdings are in Fido Mutual funds so I wonder if that makes a difference in how quickly you get your 1099s
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I believe it does. I have only a few Fidelity mutual funds and I got my 1099s a few weeks ago. My friend, whose tax forms I prepare, only got his Fidelity 1099s a few days ago. He has a large variety of holdings with Fidelity, including individual stocks, bonds, Fidelity mutual funds, and non-Fidelity mutual funds. I would expect it to take more time for his Fidelity 1099s to be prepared than it would take mine.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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02-16-2016, 02:23 PM
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#20
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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My fidelity 1099s (Div and B) showed up electronically on Feb 12 I believe. I doubt I'll get hard copies since the USPS likes to lose my stuff routinely.
__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (8, 13, and 15).
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