Do you provide Form 480.6A to residents of Puerto Rico?

Form 1099-INT reports interest income paid to your securities and commodities account for the year, including securities held outside the US (i.e., bonds issued by foreign entities). Interest income may be subject to backup withholding. Form 1099-INT reports any backup withholding as federal income tax withheld. Original issue discount (OID), although a form of interest, is reportable on Form 1099-OID…

Original issue discount (OID) is reported on Form 1099-OID. Although you may not have received a cash payment from the obligation during the year, if the obligation was originally issued at a discount, we are required to report a portion of that OID each year it is held in your account. Refer to…

Your tax treatment depends on your citizenship status, not just your residence in Puerto Rico.

• If you were born in Puerto Rico, you automatically acquired U.S. citizenship and are considered a U.S. taxpayer who must complete Form W-9 and will receive Form 1099 from IBKR…

The information provided on the Form 1099 does not necessarily determine one’s tax obligation and clients may need to make additional adjustments to determine their actual tax liability. Examples of such adjustments may include the following:

• IBKR does not report cost basis information for closing transactions involving non-covered securities which the client is obligated to report to the IRS;…