Fidelity tax forms

[MichaelB]

I just received this email from Fidelity

Update: Your 1099 tax form will be available by March 17

Is it me or is this getting worse each year?

 

[Peter]

I downloaded my Fidelity 1099 during the last week of January. But now you mention it, I haven't received the paper one yet.

 

[ExFlyBoy5]

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.

 

[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.

 

[marko]

They're always my hold-up on filing...PITA

TRPrice got theirs out mid/late-January.

 

[ExFlyBoy5]

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.

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.

 

[jazz4cash]

I got my 1099s from Fido in late Jan and they were available online mid month.

 

[Corporateburnout]

I got my 1099s from Fido in late Jan and they were available online mid month.

+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

 

[LOL!]

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?

 

[MRG]

I just received this email from Fidelity
Is it me or is this getting worse each year?

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.

 

[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:

[FONT=&quot]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.[/FONT]

[FONT=&quot]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.[/FONT]

By coincidence, Vanguard just sent an email stating that their consolidated 1099 (the one for non-Vanguard holdings) is ready.

 

[REWahoo]

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.

This seems to fly in the face of the frequently heard "Vanguard is cheaper for a reason" statement.

 

[mrfeh]

My combined 1099 was available on 2/12.

 

[dvalley]

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.

 

[rodi]

Schwab still has Feb 26th listed on their website. It's the last piece I'm waiting for.

 

[braumeister]

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.

 

[marko]

This is one of the main reasons I dumped an MLP. Had to wait until the end of March for a K1.

 

[Alan]

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.

 

[scrabbler1]

+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

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.

 

[FUEGO]

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.

 

[audreyh1]

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.

 

[gauss]

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.

-gauss

 

[Taxman59]

My son rolled over his 401k into a ROTH IRA. FIDO has not yet prepared any 1099s for him. PITA for dear old dad.

 

[gauss]

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.

-gauss

 

[LOL!]

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.