A consolidated 1099 is a grouping together into one statement of all the 1099 tax information for your account provided by Interactive Brokers to be used in preparation of your annual tax return. This information is also provided to the IRS. Click on a form below for further details:
- 1099-INT: Reports interest, including US Treasury interest and tax exempt interest (muni interest).
- 1099-OID: Reports accrued interest (original issue discount interest) on bonds where the bond price is discounted to reflect interest or interest rate changes.
- 1099-DIV: Reports dividends, long-term capital gain distributions, return of capital and foreign tax withheld. Also, reports distributions of interests and tax exempt interest from mutual funds.
- 1099-MISC: Reports payments in lieu of interest and dividends received, and stock loan payment received.
- 1099-B: Reports net proceeds from sales of securities. For stocks purchased after 1/1/10 includes cost basis of security. IBKR reports these in summary form on the consolidated 1099. Reporting is summarized into these sections: Covered securities-short term, Covered securities-long term, Uncovered securities.
- 1099-R: Other 1099s: Distributions from IRAs, Roth IRAs and SEP IRAs.
IBKR also offers tax-advantaged account types for clients who are U.S. citizen, such as IRA accounts. Please click here to learn more about these account offerings.