After a year of investing and trading, it’s time to report your taxable investment income to the IRS. To help you do this, your brokerage firm will send you a 1099 tax form. The form notes all your capital gains and losses, dividend and interest payments, and any other investing income made in your brokerage account. Learn how to read your 1099 tax form so you can be better prepared for filing your taxes.
If you’re a TD Ameritrade client, check out the 1099 Guide for a line-by-line breakdown:
Timestamps:
0:30 Document ID
0:51 Dividends and Distributions 1099-DIV
2:21 Miscellaneous Income
2:45 Section 1256 Contracts
3:05 Summary of Proceeds, Gains & Losses, Adjustments and Withholding
3:55 Proceeds from Broker and Barter Exchange Transactions 1099-B
4:58 Interest Income 1099-INT
5:16 Original Issue Discount and Adjustments 1099-OID
5:26 Reconciliations, Fees, Expenses and Expenditures
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