Vanguard Tax form confusion

[bizlady]

DM has a consolidated vanguard statement that shows x dollars of taxable income from her brokerage account. She rolled from the traditional to brokerage in 2022.

Her 1099-R and 1099-Div do not include that amount—those forms she received in the mail align with what is online under tax forms.

There is nothing in the tax forms section of her account to show the taxable amount referenced above in any tax forms.

Do we assume she is getting another form for the brokerage account yet? It would just be for interest or dividends. Would that be a 1099-B?

Brokerage accounts are new to me.

 

[cathy63]

Yes, I think she should get another set of tax forms for the brokerage account. You can confirm that by going to this page and clicking on the link in the first paragraph to "personalized tax form schedule" https://investor.vanguard.com/investor-resources-education/taxes/investment-tax-forms

The 1099-DIV is most likely for the old account before it was transitioned to the brokerage.

The 1099-R is for funds removed from an IRA.

 

[bizlady]

Yes, I think she should get another set of tax forms for the brokerage account. You can confirm that by going to this page and clicking on the link in the first paragraph to "personalized tax form schedule" https://investor.vanguard.com/investor-resources-education/taxes/investment-tax-forms

The 1099-DIV is most likely for the old account before it was transitioned to the brokerage.

The 1099-R is for funds removed from an IRA.

That link is the same that I looked at originally. The problem is that the CONSOLIDATED statement clearly shows money (outside the IRA) as dividends on the brokerage side that no tax form has been issued for. The link suggests that all her forms are complete and the amount is substantially more than the $10 minimum.

The fund in question is VMRXX cash reserve federal money market-admiral. Is anyone else seeing this discrepancy on their statements and forms?

 

[N02L84ER]

The year that I moved from traditional to brokerage at Vanguard, I got the regular 1099s for the time before the move and the consolidated statement for after the move. Both sets of numbers had to be combined and entered on the tax forms. The consolidated statement technically has the 1099-Div plus 1099-Misc plus 1099-B. Look at the headlines for the different sections. HTH

 

[Rianne]

Yep, confusing. On the 1099-Div I received eliminated a mutual fund that had no adjustments, buy or sell. CSR said there were dividends the other mutual funds did not have in the period following the transfer from traditional to brokerage. Also, the Reit fund was left off.

It seems the before and after transactions, dividends, and other payouts, are between June and December. That's how I understood it. We won't get the consolidated form until Feb. 17.