Fidelity tax documents delayed.

[Al18]

I saw the unusual reporting of 1 CD in my brokerage account. It was a 10 year CD that matured in 2024. Maybe brokered CD’s from 10 years ago were reported differently?

 

[audreyh1]

I saw the unusual reporting of 1 CD in my brokerage account. It was a 10 year CD that matured in 2024. Maybe brokered CD’s from 10 years ago were reported differently?

This was an 18 month CD.

The other CD was 12 months but called at 6 months. It was not listed.

Thanks for your info.

 

[joesxm3]

I had a CD a few years ago that was like that.

Question.

I had a Fidelity form appear online 2/22 but the copy in the mail has not arrived yet. Has anyone with 2/22 form received their paper copy?

[Edit] I called and they said that paper tax forms are placed in the mail seven business days after they become available online.

 

[audreyh1]

I had a CD a few years ago that was like that.

Question.

I had a Fidelity form appear online 2/22 but the copy in the mail has not arrived yet. Has anyone with 2/22 form received their paper copy?

[Edit] I called and they said that paper tax forms are placed in the mail seven business days after they become available online.

I only get forms online. I don’t want tax forms sent through the mail.

 

[audreyh1]

That last 1099 from Fidelity has a very odd entry. I had two brokered CDs mature in 2024. And for some reason one of them is listed under “Brokered Barters and Exchanges” like it was a bought and sold security, so it ends up listed on Schedule D. The other CD is not. The sale lists the same proceeds as cost basis, so there is no realized gain and it doesn’t mess up the taxes or reported income, but it is so weird. It shouldn’t be there. This information was dutifully downloaded from Fidelity into TT and listed under info reported to IRS, so I think we have to leave it as is.

I’m hoping that we don’t have some revised 1099 later for this account making that info disappear, but again there is no impact on the taxes. So probably doesn’t matter. I’m not waiting around for it.

OK, I have solved the mystery of the special brokered CD tax treatment!

That particular CD was transferred between two Fidelity accounts near the end of 2023. Fidelity probably had to report it like this because it transferred in a security along with its basis information.

So I’m no longer expecting any correction. Whew!

 

[joesxm3]

I only get forms online. I don’t want tax forms sent through the mail.

I saw that a while ago and plan to switch to online now that I have scanned and shredded most of documents.

I mainly liked having the monthly paper copy to but into my when I am dead binder. But I think printing off the first few pages will satisfy that need.

I assume you would say that I am safe filing my tax return based on the online 1099-R? I needed that anyway to see the dividend amounts for my government money market funds which is not in the paper version.

 

[Flieger]

My consolidated 1099 is supposed to be available 3/7, but Form(s) 5498 are showing 5/16.

Flieger

 

[audreyh1]

I assume you would say that I am safe filing my tax return based on the online 1099-R? I needed that anyway to see the dividend amounts for my government money market funds which is not in the paper version.

Yes, you can rely on the online 1099.

 

[audreyh1]

My consolidated 1099 is supposed to be available 3/7, but Form(s) 5498 are showing 5/16.

View attachment 54575

Flieger

You are not going to see 5498 before May. That’s standard.

 

[Flieger]

You are not going to see 5498 before May. That’s standard.

Yeah, I looked it up and not necessary for taxes, so I guess they are on the back burner!

Flieger

 

[Finance Dave]

Yes one of my 1099s was delayed, they blamed a JP Morgan CD...said they were waiting on JP Morgan to give them info. I finally got it, so no issues now.

 

[audreyh1]

Yeah, I looked it up and not necessary for taxes, so I guess they are on the back burner!

Flieger

It’s probably because these documents can contain contributions for the prior tax year that are allowed up to 4/15 of the current year.