Tax Forms for Investors

The documents you need to prepare your taxes can vary depending on your situation. For those who are growing their wealth through investments, you will have to navigate through more tax forms than those who do not have these types of accounts.

The most common type of form for investors is a 1099. There are various 1099 forms that report different financial wins and losses. As an investor, you might receive these 1099 forms, which report income (including investment income) to you and the IRS:

• 1099-B, which reports capital gains and losses.
• 1099-DIV, which reports dividend income and capital gains distributions.
• 1099-INT, which reports interest income.
• 1099-R, which reports distributions from retirement accounts.
• Other types of 1099 forms are less common, but you might receive them if you invest in certain types of securities or accounts, or if you perform certain transactions. These include:
  • 1099-MISC, which reports substitute payments in lieu of dividends.
  • 1099-OID, which reports any original issue discount (OID) from debt obligations, including Treasury Inflation-Protected Securities (TIPS).
  • 1099-Q, which reports distributions, including transfers to another financial institution, from education savings accounts (ESAs) and 529 accounts.

Best practice indicates you should keep your tax returns and any supporting document for 3 years. For specific information regarding your investments or tax forms associated with those investments, please contact a WESTconsin Financial Advisor. Or to learn more about tax planning, completing your return, or to take a financial wellness assessment, visit Banzai! Online. Banzai! is a financial literacy tool for people of all ages, available on Banzai! are tips about taxes and so much more!