Income tax question concerning 1099 from broker

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Old 03-16-2015, 04:43 PM
Villages PL Villages PL is offline
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Default Income tax question concerning 1099 from broker

First of all I wonder if Jackson Hewitt provides a good service for doing income tax returns.

Second, I wonder how long I should wait to see if I will get a corrected 1099 form my broker. I used to get them quite a bit in the past but over the last 4 or 5 years I don't think I ever got one. I suppose I should play it safe and wait until the end of March?

What do you do?

Last edited by Villages PL; 03-17-2015 at 04:39 PM.
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Old 03-16-2015, 04:51 PM
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Default Income tax question concerning 1099 from broker

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Originally Posted by Villages PL View Post
First of all I wonder if Jackson Hewitt provides a good service for doing income tax returns.

Second, I wonder how long I should wait to see if I will get an amended 1099 form my broker. I used to get them quite a bit in the past but over the last 4 or 5 years I don't think I ever got one. I suppose I should play it safe and wait until the end of March?

What do you do?
I'd call my broker and ask if an amended 1099 should be expected. If he says yes, ask when. many come no later than Feb 15th.
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Last edited by dbussone; 03-16-2015 at 05:45 PM.
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Old 03-16-2015, 07:47 PM
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My guess is no. You are OK. In the past 1099's had to go out by a certain date even if the broker did not have final information. Now the broker can delay a little when they know they are missing info.
Not all investments report at the same time. If you have MLP's you might have some late reporting. Since you have not had the problem in the last few years you should be ok.
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Old 03-17-2015, 04:43 PM
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Thanks, db & rjm.

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Old 03-20-2015, 07:56 AM
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As a follow up, I should report that my financial advisor sent me an email on Tuesday that my tax statement had been amended. I downloaded it and sent it to my CPA. The changes were very minor and made no difference on my tax return. So - I guess you never know.
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