Please visit the Tax Information and Reporting page of the IBKR website, specifically the Reports and Dates section, to find which forms and worksheets will be available to you and the dates they will be posted to your account…

Determine from which account you are missing your consolidated form 1099. If you are missing a consolidated form 1099, please verify that you received interest (including interest on free cash), dividend or payment in lieu, or you sold shares of stock, you bought or sold futures contracts. For the dates when the tax forms will be made available, please see: …

B: The basis shown in box 3 of Form 1099-B is incorrect. For example a wash sale is unreported on Form 1099-B, because the original purchase was a noncovered security and the replacement purchase is a covered security. The basis reported on Form 1099-B for the covered security will not include the disallowed loss from the sale of the noncovered security…

Yes. Proceeds related to short sales of securities are reported on a trade-date basis in the current year the trade is executed and not the year the sale is covered. Short sales of options are not reported. Rules that apply to short sales are complex. Refer to…

A rollover occurs when money is distributed from one tax-deferred account and deposited within 60 days to another tax deferred account. There are two types of IRA rollovers: 1) a direct rollover, which occurs when funds are transferred directly from one account to another account by the account custodians/trustees, and 2) a distribution, which is made directly to you and within 60 days you deposit the full amount (including any taxes withheld) into a new IRA or other tax deferred account. The custodian/trustee distributing the funds will issue you a 1099-R reporting the payment/transfer of funds. The code in Box 7 indicates what type of payment was made. The custodian/ trustee receiving the IRA funds will issue a Form 5498 in May reporting the contribution to the receiving IRA account which reports to the IRS that you deposited the money into another IRA…

By end of day February 17, your consolidated Forms 1099 will be available for the immediately preceding year. We often need to amend and re-issue 1099 Forms as additional information becomes available to us. We strongly recommend that you periodically check back for revisions as you prepare and finalize your tax filing…

We often need to amend and re-issue Forms 1099 as additional information becomes available to us. For example, an amended Form 1099 will be issued to reflect the late announcement by a mutual fund, regulated investment company (RIC) or unit investment trust (UIT) that a dividend distribution has been reclassified. If we do revise your Form 1099, you will receive an email notification that there has been a change, and you can access the amended form by logging in to Client Portal and selecting the Reporting > Tax Documents menu option…

To request federal tax forms, call 800.829.3676 (800/TAX-FORM), or you may access the IRS website. If your question concerns a US individual tax return call 800.829.1040. If you have a US business return question, call 800.829.4933…

If assets are transferred from an IRA or other qualified plan due to divorce, or you receive inherited IRA distributions due to a death, the IRS requires that you report these amounts.

In compliance with Treasury Department Circular 230, unless stated to the contrary, any information contained in this FAQ was not intended or written to be used and cannot be used for the purpose of avoiding tax penalties that may be imposed on any taxpayer…

We issue a consolidated Form 1099 on or about February 15 annually. Therefore, if you have both a securities and commodities account you may receive 1099s, for each account. Your 1099 reports information such as interest earned, dividends received, payments in lieu, gross proceeds from securities/futures transactions and tax withholding…

The state of Connecticut imposes a sales and use tax which is applicable to online access to information including all data and access fees.

The tax rate as of 2017 is 1% and is applicable to clients with the state of legal residency of Connecticut or a Connecticut permanent/resident address…

Profit or Loss Realized for Closed Contracts on Form 1099 for Noncovered Securities is the aggregate profit or loss recognized over the course of the year from transactions in commodity futures and regulated futures contracts which have been closed, reached final settlement or, in the case of options, expired…

Starting in 2025, Form 1099-R includes a new Code Y to specifically identify qualified charitable distributions (QCDs) from IRAs, whereas previously these distributions were reported the same as regular IRA distributions with no special designation…

Transactions involving single stock futures are not required to be reported on Form 1099. Refer to IRS Publication 550, Investment Income and Expenses for further discussion, and consult your tax advisor…

Dividend and payments in lieu details can be found from Client Portal under the Performance & Reports menu followed by Tax Documents…