Now that the 2017 income tax filing season is upon us, we would like to remind you about a few items regarding tax documents for your investments at TD Ameritrade.
- In the past, the first 1099s from TD were typically available around the third week of February. However, we suggest waiting until mid-late March at the earliest to file your return because it is quite common for one or more of your mutual funds to issue corrected information, which in turn prompts TD Ameritrade to issue corrected 1099s. Indeed, this occurred a couple of years ago with several DFA funds, which prompted the release of a corrected 1099 in mid-March for some clients who held the affected funds in taxable accounts.
- Due to some uncertainty surrounding mutual funds having to issue corrected information, we recommend filing an extension to diminish the risk of having to file an amended return.
- You can access your tax documents directly through your online TD Ameritrade login when they become available. TD Ameritrade should notify you by email when they post 1099 documents to your account.
- Another way to access your tax documents when they are released is inside your Orion portal by clicking on Documents on the top maroon colored ribbon and then you’ll see them under the Statements heading on the left hand side.
- TD Ameritrade will also mail 1099s to the address on the account when they are available. Allow 5-7 days for mail delivery after the forms have been posted online.
- For those who held Steben managed futures limited partnership investments during 2017, Steben will send out K-1s by mail. They usually come out a few weeks after TD Ameritrade’s 1099s.
- For those who held the PowerShares DB Commodity Index Tracking Fund (DBC) during 2017, 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.