Now that the 2020 income tax filing season is upon us, we would like to remind you of a few items regarding tax documents for your investments at TD Ameritrade.
1. Generally, the first round of 1099s from TD Ameritrade are available the third week of February. However, we suggest waiting until late March, at the earliest, or file an extension due to some uncertainty around mutual fund companies reissuing 1099s. It is not uncommon for mutual fund companies to issue corrected 1099 information, which in turn prompts TD Ameritrade to issue corrected 1099s. This occurred a couple of years ago, resulting in a few clients having to amend their tax returns.
2. You can access your tax documents directly through your online TD Ameritrade login when they become available. https://www.advisorclient.com/login TD Ameritrade should notify you by email on record when they post 1099 documents to your account.
3. You may also access TD Ameritrade tax documents once they are released inside your Orion portal by logging into your Orion Client Portal. https://login.orionadvisor.com/ Once logged in, click on ‘Documents’, then ‘Statements’, then ‘Tax Reports’ and you’ll see them under ‘Name’.
4. TD Ameritrade will also mail 1099s to the address of record when they are available. Please allow 5-7 days for mail delivery after the forms have been posted online.
5. For those who held Steben’s Futures Portfolio Fund, Limited Partnership investment in a taxable account during 2020, Steben will send out K-1s by mail. These usually show up a few weeks after TD Ameritrade’s 1099s.
6. For those who held the PowerShares DB Commodity Index Tracking Fund (DBC) during 2020, PowerShares may send you a K-1 by mail. Last year they were available in late February.
We hope this information helps you plan your tax filing accordingly.
-The KFG Planning Team