2017 Tax Information

With the 2017 tax return year ended, MONTAG clients have begun to ask us “when do the 1099s come out?”  A 1099 Form is an Internal Revenue Service (IRS) form that covers income received other than employer salary for the year.

MONTAG has recently received the production schedule of Form 1099 from both Fidelity and Schwab.  The relevant dates, per custodian, are as follows (as of January 2017):

FIDELITY

SCHWAB

In early February 2018, 1099s will be sent out for accounts that hold investments for which we have all necessary tax information including stocks, US Fixed Income with fixed coupons and maturities, Options and Money Market Funds/Cash Deposit interest*. We expect the 1099s to be available on schwab.com on Wednesday, January 31^st, and on sac.com by Thursday, February 1^st. Mailings of paper 1099 Composites will take place from February 1st through February 10th.

• Note: Investors who made sales in December or who bought to cover short positions in December will receive Form 1099 in mid-February.

In mid-February 2018, 1099s will be sent out for accounts that contain at least one investment for which the issuer can’t provide information in time for the earlier mailing. Examples include ETFs and Mutual Funds, Complex fixed income, REITs, UITs, WHFITs, Suspect Securities, and US and foreign stocks that have been reclassified in the past. We expect the 1099s to be available on schwab.com on Wednesday, February 14^th, and on sac.com by Thursday, February 15^th. Mailings of paper 1099 Composites will take place from February 15^th through February 24^th.