I received 1099-Bs by Feb 15 from my broker but understand that any corrected
1099-Bs must be issued by Feb 28. Can anyone confirm that?- posted
7 years ago
I received 1099-Bs by Feb 15 from my broker but understand that any corrected
1099-Bs must be issued by Feb 28. Can anyone confirm that?
There is no deadline for corrected 1099s. There have been instances where they have been issued more than a year after the original.
Ira Smilovitz, EA
There are certain classes of dividend-paying entities which do not have to report the dividends paid until the end of March. IIRC, REITs are one of these. Also some companies change their mind about the nature of the dividends they paid out; IME, these changes were done at the end of March and I got the notification from the broderage in April. IIRC, the changes were the amounts of the dividends paid which were return of investment.
/BAH
All of my investments are ETF's so I would think that Feb 28 would be a date I could depend on?
Normally one holds ETFs in a brokerage account, so the ETF info is on the 1099 the broker sends you. Or are these held some other way?
R's, John
Sorry, that was a dumb response.
Slightly less dumb I hope: I don't ever recall getting an amended brokerage 1099 due to ETFs. Is there some reason these are likely to be unusually late? I have a several ETFs that hold foreign stocks so I'd think they'd be as late as anything.
R's, John
I also have a couple of ETFs with foreign holdings, e.g. SPDR S&P International Dividend ETF Symbol DWX. I will be ready to file by 3/1 so I think I will just go ahead and do it.
I don't know what an ETF is. If the entity can decide that some of the payout is return on investment, I think the deadline for reporting that number to the brokerages which hold the ETF for you is March 15. The deadline for normal dividends is February 15. There are some other income classification which have a deadline of March 31 but I've never bought those because of that delay. I've also sold stock of companies which persistently changed their minds about dividend categories.
/BAH
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