Vanguard Tax Forms Now Online

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John151
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Vanguard Tax Forms Now Online

Post by John151 » Tue Jan 16, 2018 3:51 pm

As of this morning, Vanguard Form 1099-DIV and Vanguard Form 1099-R have been posted online. This is for mutual fund investors. Brokerage investors will probably have to wait awhile.

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oneleaf
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Re: Vanguard Tax Forms Now Online

Post by oneleaf » Tue Jan 16, 2018 3:55 pm

I have an "upgraded" (combined) brokerage account with only Vanguard funds. It is a shame that this probably puts my tax forms out a month for no good reason.

The nice thing is that dividend numbers are easier to report (one line for all funds, instead of a line for each fund). But it sure would be nice if they made brokerage tax statements available earlier for those with only Vanguard funds in the account.

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John151
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Re: Vanguard Tax Forms Now Online

Post by John151 » Tue Jan 16, 2018 4:04 pm

That’s why I won’t “upgrade” unless I’m forced to.

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Re: Vanguard Tax Forms Now Online

Post by flamesabers » Tue Jan 16, 2018 4:05 pm

John151 wrote:
Tue Jan 16, 2018 4:04 pm
That’s why I won’t “upgrade” unless I’m forced to.
+1.

Brokerage investors will likely have to wait another month before getting their tax statements.

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SpartanFan
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Re: Vanguard Tax Forms Now Online

Post by SpartanFan » Tue Jan 16, 2018 4:24 pm

I recvd an 1099-R for a Roth I have (Brokerage Acct) and VG did not enter an amount in box 2A (taxable amt), which is the taxable amount field. They did have box 2B checked (Taxable Amt not determined). When I called them they indicated they could not determine if it was taxable.

I dont quite understand that because it is and always has been held in an IRA acct with VG, Iam 65 and have held the acct well over 5 yrs.

The reason I called them is that the Tax software Iam using requires a value in box 2A and there was none on the form from VG. They told me to just "put a 0 in the field" .

Didnt make me feel too warm and cozy with the answer. Am I missing something ???
"There's a crack in everything, that's how the light gets in" - Leonard Cohen

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SpartanFan
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Re: Vanguard Tax Forms Now Online

Post by SpartanFan » Tue Jan 16, 2018 4:27 pm

flamesabers wrote:
Tue Jan 16, 2018 4:05 pm
John151 wrote:
Tue Jan 16, 2018 4:04 pm
That’s why I won’t “upgrade” unless I’m forced to.
+1.

Brokerage investors will likely have to wait another month before getting their tax statements.
Iam a brokerage customer and I received my form notice today. (although Iam not sure it is correct - see my other post above)
"There's a crack in everything, that's how the light gets in" - Leonard Cohen

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oneleaf
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Re: Vanguard Tax Forms Now Online

Post by oneleaf » Tue Jan 16, 2018 4:31 pm

SpartanFan wrote:
Tue Jan 16, 2018 4:27 pm
Iam a brokerage customer and I received my form notice today. (although Iam not sure it is correct - see my other post above)
Good to know. Although in your case, it is a 1099-R which states mid-January for Mutual Fund accounts and late-January for Brokerage accounts.

The fact that you got the 1099-R for a brokerage by mid-January is promising. But for 1099-DIV and 1099-B's, they are scheduled for mid-February for brokerage, so it could just be that 1099-R's got out earlier. We'll see.

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Re: Vanguard Tax Forms Now Online

Post by flamesabers » Tue Jan 16, 2018 4:47 pm

SpartanFan wrote:
Tue Jan 16, 2018 4:24 pm
I recvd an 1099-R for a Roth I have (Brokerage Acct) and VG did not enter an amount in box 2A (taxable amt), which is the taxable amount field. They did have box 2B checked (Taxable Amt not determined). When I called them they indicated they could not determine if it was taxable.

I dont quite understand that because it is and always has been held in an IRA acct with VG, Iam 65 and have held the acct well over 5 yrs.

The reason I called them is that the Tax software Iam using requires a value in box 2A and there was none on the form from VG. They told me to just "put a 0 in the field" .

Didnt make me feel too warm and cozy with the answer. Am I missing something ???
Here's the instructions from the IRS in regards to your situation:
Box 2a. This part of the distribution is generally taxable. If there is no entry in this box, the payer may not have all the facts needed to figure
the taxable amount.
In that case, the first box in box 2b should be checked. You may want to get one of the free publications from the IRS to help you figure the taxable amount. See Additional information on the back of Copy 2.
https://www.irs.gov/pub/irs-pdf/f1099r.pdf

What were the circumstances for you to get issued a 1099-R?
oneleaf wrote:
Tue Jan 16, 2018 4:31 pm
The fact that you got the 1099-R for a brokerage by mid-January is promising. But for 1099-DIV and 1099-B's, they are scheduled for mid-February for brokerage, so it could just be that 1099-R's got out earlier. We'll see.
1099-R were already scheduled to be available by late January for brokerage accounts.

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Re: Vanguard Tax Forms Now Online

Post by jebmke » Tue Jan 16, 2018 4:58 pm

SpartanFan wrote:
Tue Jan 16, 2018 4:24 pm
I recvd an 1099-R for a Roth I have (Brokerage Acct) and VG did not enter an amount in box 2A (taxable amt), which is the taxable amount field. They did have box 2B checked (Taxable Amt not determined). When I called them they indicated they could not determine if it was taxable.

I dont quite understand that because it is and always has been held in an IRA acct with VG, Iam 65 and have held the acct well over 5 yrs.

The reason I called them is that the Tax software Iam using requires a value in box 2A and there was none on the form from VG. They told me to just "put a 0 in the field" .

Didnt make me feel too warm and cozy with the answer. Am I missing something ???
This is normal. Box 7 is code "Q", correct? The software should handle it OK the way you describe. What shows on Line 15a and 15b of the 1040?
When you discover that you are riding a dead horse, the best strategy is to dismount.

pshonore
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Re: Vanguard Tax Forms Now Online

Post by pshonore » Tue Jan 16, 2018 5:04 pm

Just a rough guess but you'll probably have to fill out Part III of Form 8606 to indicate these distributions are not taxable. TT or any good tax software will most likely guide you through that.

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Re: Vanguard Tax Forms Now Online

Post by SpartanFan » Tue Jan 16, 2018 5:08 pm

jebmke wrote:
Tue Jan 16, 2018 4:58 pm
SpartanFan wrote:
Tue Jan 16, 2018 4:24 pm
I recvd an 1099-R for a Roth I have (Brokerage Acct) and VG did not enter an amount in box 2A (taxable amt), which is the taxable amount field. They did have box 2B checked (Taxable Amt not determined). When I called them they indicated they could not determine if it was taxable.

I dont quite understand that because it is and always has been held in an IRA acct with VG, Iam 65 and have held the acct well over 5 yrs.

The reason I called them is that the Tax software Iam using requires a value in box 2A and there was none on the form from VG. They told me to just "put a 0 in the field" .

Didnt make me feel too warm and cozy with the answer. Am I missing something ???
This is normal. Box 7 is code "Q", correct? The software should handle it OK the way you describe. What shows on Line 15a and 15b of the 1040?
/b

Box 7 is a "T" not a Q.
15A is Blank (it s/b the totalamt" 15B includes the Amount of the totalamt of the distribution
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Re: Vanguard Tax Forms Now Online

Post by oldcomputerguy » Tue Jan 16, 2018 5:15 pm

flamesabers wrote:
Tue Jan 16, 2018 4:05 pm
John151 wrote:
Tue Jan 16, 2018 4:04 pm
That’s why I won’t “upgrade” unless I’m forced to.
+1.

Brokerage investors will likely have to wait another month before getting their tax statements.
Per the Vanguard web site:
You can expect your forms starting in mid-January for mutual fund accounts and mid-February for brokerage accounts.
It’s taken me a lot of years, but I’ve come around to this: If you’re dumb, surround yourself with smart people. And if you’re smart, surround yourself with smart people who disagree with you.

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Re: Vanguard Tax Forms Now Online

Post by oldcomputerguy » Tue Jan 16, 2018 5:19 pm

As a side note, I just saw that the 1099-INT for my Ally emergency fund account is online.
It’s taken me a lot of years, but I’ve come around to this: If you’re dumb, surround yourself with smart people. And if you’re smart, surround yourself with smart people who disagree with you.

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Re: Vanguard Tax Forms Now Online

Post by jebmke » Tue Jan 16, 2018 5:19 pm

SpartanFan wrote:
Tue Jan 16, 2018 5:08 pm
15A is Blank (it s/b the totalamt" 15B includes the Amount of the totalamt of the distribution
15a doesn't always show the total amount for IRAs; you need to see the instructions for line 15 to determine whether that should be blank in this case. If you zeroed out Box 2a on the 1099-R input and the total still shows in 15b of the 1040 then it sounds like a bug in the software.
When you discover that you are riding a dead horse, the best strategy is to dismount.

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Re: Vanguard Tax Forms Now Online

Post by fishnskiguy » Tue Jan 16, 2018 5:20 pm

Interesting. The tax forms are available online but TurboTax tells me they are not available for downloading into TT until Jan 25. I wonder why that is so. :confused

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Re: Vanguard Tax Forms Now Online

Post by jebmke » Tue Jan 16, 2018 5:23 pm

fishnskiguy wrote:
Tue Jan 16, 2018 5:20 pm
Interesting. The tax forms are available online but TurboTax tells me they are not available for downloading into TT until Jan 25. I wonder why that is so. :confused

Chris
This happened last year as I recall. They may dribble out some of the forms but wait to release the database that the tax software hits.
When you discover that you are riding a dead horse, the best strategy is to dismount.

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Re: Vanguard Tax Forms Now Online

Post by SpartanFan » Tue Jan 16, 2018 5:27 pm

jebmke wrote:
Tue Jan 16, 2018 5:19 pm
SpartanFan wrote:
Tue Jan 16, 2018 5:08 pm
15A is Blank (it s/b the totalamt" 15B includes the Amount of the totalamt of the distribution
15a doesn't always show the total amount for IRAs; you need to see the instructions for line 15 to determine whether that should be blank in this case. If you zeroed out Box 2a on the 1099-R input and the total still shows in 15b of the 1040 then it sounds like a bug in the software.
The form from VG does NOT have the IRA box checked. This is an IRA. I can see why the tax software treats it as taxable if that box is not checked from VG. Its a VG issue I believe ???
"There's a crack in everything, that's how the light gets in" - Leonard Cohen

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Re: Vanguard Tax Forms Now Online

Post by livesoft » Tue Jan 16, 2018 5:28 pm

SpartanFan wrote:
Tue Jan 16, 2018 4:24 pm
Am I missing something ???
Yes, get better tax software which will help guide you when Box 2A is empty and 2B checked, so that you do not need to put a number in Box 2A.

Also tax software does not stop one from reading the IRS instructions.

And yes, financial institutions send out incorrect 1099s all the time.
Last edited by livesoft on Tue Jan 16, 2018 5:32 pm, edited 2 times in total.
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Re: Vanguard Tax Forms Now Online

Post by jebmke » Tue Jan 16, 2018 5:29 pm

SpartanFan wrote:
Tue Jan 16, 2018 5:27 pm
jebmke wrote:
Tue Jan 16, 2018 5:19 pm
SpartanFan wrote:
Tue Jan 16, 2018 5:08 pm
15A is Blank (it s/b the totalamt" 15B includes the Amount of the totalamt of the distribution
15a doesn't always show the total amount for IRAs; you need to see the instructions for line 15 to determine whether that should be blank in this case. If you zeroed out Box 2a on the 1099-R input and the total still shows in 15b of the 1040 then it sounds like a bug in the software.
The form from VG does NOT have the IRA box checked. This is an IRA. I can see why the tax software treats it as taxable if that box is not checked from VG. Its a VG issue I believe ???
Yes, sounds like you need a corrected 1099-R. They often shoot out corrections well into the spring. That, among many reasons, is why I wait and file as late as possible.

Just curious, did your software put the value on Line 15 even though the IRA box was not checked or did you check the box, VG form notwithstanding?
When you discover that you are riding a dead horse, the best strategy is to dismount.

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Re: Vanguard Tax Forms Now Online

Post by livesoft » Tue Jan 16, 2018 5:43 pm

I'd rather have my 1099s done right the first time than to be the first on my block to file my tax return.

But every year on bogleheads.org it's like kicking an ant nest when the 1099s come out. Everybody knows there are mistakes in them and everybody knows they don't really need to get them until March.
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Seasonal
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Re: Vanguard Tax Forms Now Online

Post by Seasonal » Tue Jan 16, 2018 5:53 pm

I'm getting "Tax information is temporarily unavailable. Please try again later or contact us." at the moment when I try to download my forms.

Anyone else?

Perhaps Vanguard heard livesoft.

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Re: Vanguard Tax Forms Now Online

Post by PinotGris » Tue Jan 16, 2018 6:22 pm

Seasonal wrote:
Tue Jan 16, 2018 5:53 pm
I'm getting "Tax information is temporarily unavailable. Please try again later or contact us." at the moment when I try to download my forms.

Anyone else?

Perhaps Vanguard heard livesoft.
Me too.

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SquawkIdent
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Re: Vanguard Tax Forms Now Online

Post by SquawkIdent » Tue Jan 16, 2018 6:22 pm

Seasonal wrote:
Tue Jan 16, 2018 5:53 pm
I'm getting "Tax information is temporarily unavailable. Please try again later or contact us." at the moment when I try to download my forms.

Anyone else?

Perhaps Vanguard heard livesoft.
I'm just getting nothing. The forms won't download. I'll try again tomorrow. :oops:

TravelGeek
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Re: Vanguard Tax Forms Now Online

Post by TravelGeek » Tue Jan 16, 2018 6:30 pm

Seasonal wrote:
Tue Jan 16, 2018 5:53 pm
I'm getting "Tax information is temporarily unavailable. Please try again later or contact us." at the moment when I try to download my forms.

Anyone else?
Yep.

Bogleheads have slashdotted the tax server at Vanguard.

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Re: Vanguard Tax Forms Now Online

Post by dougger5 » Tue Jan 16, 2018 6:47 pm

Seasonal wrote:
Tue Jan 16, 2018 5:53 pm
I'm getting "Tax information is temporarily unavailable. Please try again later or contact us." at the moment when I try to download my forms.

Anyone else?

Perhaps Vanguard heard livesoft.
Same here. And as another said - tomorrow is another day :beer
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johnanglemen
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Re: Vanguard Tax Forms Now Online

Post by johnanglemen » Tue Jan 16, 2018 6:50 pm

Can those of you who have tax forms tell us the final qualified dividend percentage for Vanguard Total Stock and Vanguard Total International?

rkhusky
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Re: Vanguard Tax Forms Now Online

Post by rkhusky » Tue Jan 16, 2018 7:09 pm

Just got my 1099. Qualified dividends for Total Stock, Mid Cap and Small Cap are 94.78%, 87.18%, 65.72%, respectively. This compares to Vanguard's estimates of 94%, 89%, 71%, respectively.

johnanglemen
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Re: Vanguard Tax Forms Now Online

Post by johnanglemen » Tue Jan 16, 2018 7:12 pm

rkhusky wrote:
Tue Jan 16, 2018 7:09 pm
Just got my 1099. Qualified dividends for Total Stock, Mid Cap and Small Cap are 94.78%, 87.18%, 65.72%, respectively. This compares to Vanguard's estimates of 94%, 89%, 71%, respectively.
Wow. If they had gotten qualified dividends to 95%, they could've reported them as 100%. Big loss.

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Re: Vanguard Tax Forms Now Online

Post by Broken Man 1999 » Tue Jan 16, 2018 7:26 pm

We only have one form from Vanguard for taxes, as all of our retirement portfolio is in tax-advantaged accounts.

Our one form, 1099R, was available AND correct. We are on the brokerage platform. :D

Good luck to the rest of you!

Typically I file in April so even when we had assets in our taxable account I didn't care when the forms came, so long as they weren't so late they prevented me from filing on time. We always owe a bit, I see no reason to extend the Treasury a no interest loan.

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Re: Vanguard Tax Forms Now Online

Post by triceratop » Tue Jan 16, 2018 7:30 pm

johnanglemen wrote:
Tue Jan 16, 2018 7:12 pm
rkhusky wrote:
Tue Jan 16, 2018 7:09 pm
Just got my 1099. Qualified dividends for Total Stock, Mid Cap and Small Cap are 94.78%, 87.18%, 65.72%, respectively. This compares to Vanguard's estimates of 94%, 89%, 71%, respectively.
Wow. If they had gotten qualified dividends to 95%, they could've reported them as 100%. Big loss.
The information has been public for a little while here but no one has pointed that yet on bogleheads.org.

I did some calculations this last weekend that If Vanguard held a year-end bonfire where they torched $22M they would have saved their taxable TSM investors money.
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Re: Vanguard Tax Forms Now Online

Post by MtnBiker » Tue Jan 16, 2018 7:56 pm

Retrieved our brokerage 1099-R and mutual fund 1099-DIV. Also found the US government obligations breakout here:

https://advisors.vanguard.com/VGApp/iip ... guardFunds

Seasonal
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Re: Vanguard Tax Forms Now Online

Post by Seasonal » Tue Jan 16, 2018 8:40 pm

Seasonal wrote:
Tue Jan 16, 2018 5:53 pm
I'm getting "Tax information is temporarily unavailable. Please try again later or contact us." at the moment when I try to download my forms.

Anyone else?

Perhaps Vanguard heard livesoft.
It just worked for me.

rkhusky
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Re: Vanguard Tax Forms Now Online

Post by rkhusky » Tue Jan 16, 2018 9:05 pm

You can find the state breakdown of tax exempt muni income here:
https://advisors.vanguard.com/VGApp/iip ... rationData

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Toons
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Re: Vanguard Tax Forms Now Online

Post by Toons » Tue Jan 16, 2018 9:18 pm

Entered Into TaxAct









:happy
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Re: Vanguard Tax Forms Now Online

Post by joe8d » Tue Jan 16, 2018 9:24 pm

flamesabers wrote:
Tue Jan 16, 2018 4:05 pm
John151 wrote:
Tue Jan 16, 2018 4:04 pm
That’s why I won’t “upgrade” unless I’m forced to.
+1.

Brokerage investors will likely have to wait another month before getting their tax statements.
+2
All the Best, | Joe

Yankuba
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Re: Vanguard Tax Forms Now Online

Post by Yankuba » Tue Jan 16, 2018 9:46 pm

Vanguarded upgraded me from mutual fund accounts to brokerage in 2017. The 1099s for the mutual funds are ready (covering one quarter of dividends and trades) but I will have to wait until February for the rest of the year’s dividends and trades. Kind of annoying

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Re: Vanguard Tax Forms Now Online

Post by nabakovfan1 » Wed Jan 17, 2018 12:16 am

I also upgraded in 2017. Will my import from VG in Feb be unified with both before and after the date of upgrade [all of 2017]? Hope so! :confused

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Re: Vanguard Tax Forms Now Online

Post by UncleLeo » Wed Jan 17, 2018 1:35 am

flamesabers wrote:
Tue Jan 16, 2018 4:05 pm
John151 wrote:
Tue Jan 16, 2018 4:04 pm
That’s why I won’t “upgrade” unless I’m forced to.
+1.

Brokerage investors will likely have to wait another month before getting their tax statements.
Dumb question of the day: What is the difference between an "upgraded" brokerage account and "non upgraded" account?
If I opened an account with Vanguard which shows as "Brokerage" and I plan to use it only for mutual/index funds, is there a downside to it being "Brokerage" account?

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randomizer
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Re: Vanguard Tax Forms Now Online

Post by randomizer » Wed Jan 17, 2018 1:53 am

Good old Vanguard. So many qualified dividends, tax-exempt dividends.
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Re: Vanguard Tax Forms Now Online

Post by flamesabers » Wed Jan 17, 2018 12:56 pm

UncleLeo wrote:
Wed Jan 17, 2018 1:35 am
flamesabers wrote:
Tue Jan 16, 2018 4:05 pm
John151 wrote:
Tue Jan 16, 2018 4:04 pm
That’s why I won’t “upgrade” unless I’m forced to.
+1.

Brokerage investors will likely have to wait another month before getting their tax statements.
Dumb question of the day: What is the difference between an "upgraded" brokerage account and "non upgraded" account?
If I opened an account with Vanguard which shows as "Brokerage" and I plan to use it only for mutual/index funds, is there a downside to it being "Brokerage" account?
I don't have a brokerage account. My understanding is a "upgraded" brokerage account has integrated all your funds (i.e. Vanguard Mutual Funds, ETFs, individual stocks, etc). into a single log-in or profile while a non-upgraded brokerage account hasn't gone through the integration process. In other words, you'll still have two separate logins or profiles, one for your Vanguard Mutual Funds, the other for everything else.

There are a few downsides to having a brokerage account if you're only going to use it for Vanguard Mutual Funds. As noted in this thread, brokerage investors have to wait longer for their tax forms then those who strictly have a Mutual Funds account. If you're wanting to know more, I recommend doing a search on these forums for downsides of doing the upgrade if you don't already have a brokerage account.

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