As tax time approaches, we thought we would provide a few answers to some frequently asked questions (FAQs).
1099 (Consolidated Tax Reporting Statement) FAQs
Q: When will I receive my 1099?
A: LPL Financial expects to mail the 1099s weekly in multiple waves, the majority will be mailed out between February 3, 2023 and February 17, 2023. Even with the staggered mailing process, delayed reporting can sometimes occur which may trigger corrected tax forms. We will do our best to notify you if there is a correction to your tax form.
Q: Can I see my 1099 online?
A: LPL Financial expects to have the 1099s available to download from LPL AccountView based on the mailing date, so between February 3, 2023 and February 17, 2023. They will be found under the Statements/Documents Tab (Statement Type: Tax Statements/Tax Forms). Please note that some clients may have “Preliminary Draft” 1099s where LPL is still awaiting information from security issuers.
Q: Can I import my 1099 data into a tax preparation program?
A: Yes, this year clients can download their tax data into TurboTax® and H&R Block® tax return preparation software.
Q: Can I import my 1099 data into TurboTax® and H&R Block®?
A: Yes, all LPL accounts can now import 1099 transaction information directly into TurboTax® or H&R Block® from LPL Financial. However, you will no longer need a valid LPL Account View username and password to access this information.
Q: How do I import my 1099 data into TurboTax® and H&R Block®?
A: See the attached TurboTax® and H&R Block® Guide.