Tuesday, March 20, 2012

1099 Forms for Investments

Q.  I can't find a 1099 form for some investments that I know I had last year, as I'm holding the copy in my hand. I don't want to wait until next month to complete the filing of my taxes. Is there a way I can get this form?

A.  The obvious answer is to contact the institution that holds your investments and see if they mailed it. The deadline was March 15th, so it possibly could still be in the mail. Next, go to their website and see if you can download it. If you still can't find it, ask yourself if the investment was mostly cash. With interest rates at historic lows, it's quite possible your investment didn't generate enough income to require a 1099 filing. For interest and dividends, the filing threshold is $10. So, if the investment income generated was less than $10, you may not receive any 1099. Last but not least, could you have sold the investment last year? Look on your Schedule D to see if you divested yourself of the investments.

No comments:

Post a Comment