Vanguard tax documents now becoming available

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rkhusky
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Vanguard tax documents now becoming available

Post by rkhusky » Tue Jan 14, 2020 9:00 am

Just downloaded my 1099-R. My notification email came at 3:30 pm EST yesterday. Wife's email arrived at 4:17 pm EST yesterday. The date on the document was 01/11/2020, but not sure when it was actually first available on the web site.
Last edited by rkhusky on Tue Jan 14, 2020 11:50 am, edited 2 times in total.

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RickBoglehead
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Re: Vanguard tax documents now available - MAYBE

Post by RickBoglehead » Tue Jan 14, 2020 9:18 am

This may be true IF the only holdings you have are Vanguard mutual funds.

I have some CDs, and one bond. I have no tax forms available.

Here is Vanguard's published timeline:

Looking for your 2019 tax forms?
Find out which forms we provide and when to expect them.

1042-S
What it's used for
For nonresident aliens to report amounts that are subject to income tax withholding.

Why you might receive one
You'll only get a 1042-S if you're a nonresident alien and:

From a nonretirement account, you received any dividend, short-term capital gains, or long-term capital gains distributions.
From a retirement account (including IRAs), you took any withdrawals.
You had any federal income tax withheld from those withdrawals (referred to as nonresident alien withholding).
If you haven't provided Vanguard with a completed Form W-8BEN to certify your foreign status, you may instead receive a 1099-B or 1099-DIV to report these activities.

When it will be ready
Late February for mutual fund accounts. Mid-March for brokerage accounts.

1099-B
What it's used for
To determine any taxes due on your sales of mutual fund shares and securities.

Why you might receive one
You'll get a 1099-B if, in a nonretirement account, you:

Sold or exchanged mutual fund shares (excluding money market funds).
Sold any individual securities.
Owned an individual stock that was part of a merger.
Owned an individual bond that matured.
Experienced a profit or loss on a regulated futures contract.†
What the form doesn't report
1099-B tax information
1099-B brochure: A guide to reporting investment capital gains and losses
When it will be ready
Mid-January for most mutual fund accounts.*
Late January for brokerage accounts with only Vanguard mutual funds and/or ETFs and simple securities that don't typically reclassify income.*
Mid-February for brokerage accounts with complex securities and additional mutual funds and/or ETFs.*
*Mutual fund or brokerage accounts with the REIT Index Fund and the Managed Payout Fund will be available mid-February.


1099-DIV
What it's used for
To determine any taxes due on your investment income.

Why you might receive one
You'll get a 1099-DIV if:

From a nonretirement account, you received ordinary or qualified dividend distributions, capital gains distributions, or foreign taxes paid.
From a tax-exempt bond fund or money market fund, you received interest dividends, including specified private activity bond interest.
But even if you meet these criteria, you might not receive a 1099-DIV—especially if your income totaled less than $10 for a particular investment.

Find out why you might not receive Form 1099-DIV
If any of your Vanguard funds held direct U.S. government obligations in 2019, you'll also receive a separate instruction sheet with your 1099-DIV. You'll need both documents to report your state and local tax liability.

1099-DIV tax information
1099-DIV brochure: A guide to reporting Vanguard mutual fund dividends and capital gains distributions
When it will be ready
Mid-January for most mutual fund accounts.*
Late January for brokerage accounts with only Vanguard mutual funds and/or ETFs and simple securities that don't typically reclassify income.*
Mid-February for brokerage accounts with complex securities and additional mutual funds and/or ETFs.*
*Mutual fund or brokerage accounts with the REIT Index Fund and the Managed Payout Fund will be available mid-February.

1099-INT
What it's used for
To determine any taxes due on your investment income from fixed income investments.

Why you might receive one
You'll get a 1099-INT if, in a brokerage account, you owned an individual bond (or other interest-bearing investment) that paid taxable and/or tax-exempt interest.

(For mutual funds, this income is reported on your 1099-DIV.)

When it will be ready
Mid-February.

1099-MISC

What it's used for
To determine any taxes due on substitute payments for stocks.

Why you might receive one
You'll get a 1099-MISC if, in a nonretirement margin account, you received substitute payments in lieu of dividends for individual stocks.

When it will be ready
Mid-February.

1099-OID

What it's used for
To determine any taxes due on individual bonds you bought at a discount.

Why you might receive one
You'll get a 1099-OID if, in a brokerage account, you owned an individual bond (or other interest-bearing investment) that was originally purchased at a discount—meaning that you paid less than face value. You're required to report a portion of that OID (original issue discount) each year you own the bond.

Form 1099-OID is issued even if you didn't receive a cash payment from the investment during the year.

Special note to owners of TIPS
When it will be ready
Mid-February.

1099-Q
What it's used for
To determine any taxes due on withdrawals from accounts used for education savings.

Why you might receive one
You'll only get a 1099-Q if you owned either an ESA or a Vanguard 529 College Savings Plan account and you:

Took a withdrawal.
Transferred assets from your Vanguard account to another financial institution.
When it will be ready
Mid-January.

1099-R

What it's used for
To determine if any of your retirement account transactions resulted in taxable income and/or may be subject to penalties.

Why you might receive one
You'll get a 1099-R if you owned a retirement account, like an IRA or employer-sponsored plan account, and:

Took a distribution.
Removed an excess contribution.
Converted to a Roth IRA.
Recharacterized a contribution.
Completed a rollover into an IRA.
When it will be ready
Mid-January for mutual fund accounts. Late January for brokerage accounts.

5498

What it's used for
To report your total annual IRA contributions.

Why you might receive one
You'll get a 5498 if you owned a retirement account (like an IRA or employer-sponsored plan account) and:

Made a contribution (including catch-up contributions) to an IRA between January 1, 2019, and April 15, 2020.
Converted to a Roth IRA.
Completed a rollover into an IRA.
Recharacterized a contribution.
While Vanguard sends a copy of this form to the IRS, it generally isn't necessary when you're preparing your tax returns.

However, it may be used the following year to help determine whether or not you need to take a required minimum distribution (RMD).

When it will be ready
Mid-May (for all account types).

Why May? Because contributions can be made until April 15 for the previous tax year.

5498-ESA
What it's used for
To report your total annual education savings account (ESA) contributions.

Why you might receive one
You'll get a 5498-ESA if you owned an ESA and:

Made a contribution.
Transferred assets from another institution to your Vanguard account.
This form is primarily for your records. It generally isn't necessary when you're preparing your tax returns.

When it will be ready
Late April.
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Re: Vanguard tax documents now available

Post by jebmke » Tue Jan 14, 2020 9:23 am

I have found most stuff is available by March. Sometimes corrections follow. By April I have a reasonable enough stab at my tax liability to pay up with the extension.

Always a good idea to reconcile your financial statements and your tax statements. The results can sometimes surprise you. More than once a poor sole has converted an account from MF to brokerage mid-year, jumped the gun on filing taxes with only the MF part and had to amend fairly quickly.
When you discover that you are riding a dead horse, the best strategy is to dismount.

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rkhusky
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Re: Vanguard tax documents now becoming available

Post by rkhusky » Tue Jan 21, 2020 1:00 pm

Just downloaded 1099-B and 1099-DIV from Vanguard. They are dated 1/19/20.

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rkhusky
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Re: Vanguard tax documents now becoming available

Post by rkhusky » Tue Jan 21, 2020 1:32 pm

Vanguard's estimates for QDI were reasonably close for the funds that I track:

Total Stock Market: Est= 95%, Actual= 93.8%,
Large Cap: Est= 98%, Actual= 97.1%,
Mid Cap: Est= 84%, Actual= 83.2%,
Small Cap: Est= 73%, Actual= 69.4%.

Also a comparison to December distribution estimates:

Total Stock Market: Est=$0.41, Actual= $0.42890, (reinvest price = $79.53)
Large Cap: Est= $0.37, Actual= $0.38590, (reinvest price = $74.51)
Mid Cap: Est= $1.13, Actual= $1.22230, (reinvest price = $219.97)
Small Cap: Est= $0.39, Actual= $0.42780. (reinvest price = $79.44)

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Re: Vanguard tax documents now available - MAYBE

Post by boglesmind » Tue Jan 21, 2020 2:57 pm

RickBoglehead wrote:
Tue Jan 14, 2020 9:18 am
This may be true IF the only holdings you have are Vanguard mutual funds.

I have some CDs, and one bond. I have no tax forms available.

Here is Vanguard's published timeline:

1099-R

What it's used for
To determine if any of your retirement account transactions resulted in taxable income and/or may be subject to penalties.

Why you might receive one
You'll get a 1099-R if you owned a retirement account, like an IRA or employer-sponsored plan account, and:
...
When it will be ready
Mid-January for mutual fund accounts. Late January for brokerage accounts.
We have brokerage accounts only.
Our 1099-Rs became available on 11 Jan 2020 and email from Vanguard was received a day later.
I check for tax docs almost daily :-) and found them on 11 Jan.
Received 1099-R from Fidelity 5 days later. Now waiting for other tax docs.

Boglesmind

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Re: Vanguard tax documents now becoming available

Post by mister_sparkle » Tue Jan 21, 2020 3:23 pm

I received a notification from Vanguard today that my 1099-B and 1099-DIV forms were ready.

Interestingly, Fidelity has now pushed back my 1099 consolidated form to 2/15, stating that it's due to a delay in reporting from Vanguard (I hold 3 VG funds in my Fidelity account). A week ago, it said 1/25.

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Re: Vanguard tax documents now becoming available

Post by JDDS » Tue Jan 21, 2020 3:33 pm

rkhusky wrote:
Tue Jan 21, 2020 1:32 pm
Vanguard's estimates for QDI were reasonably close for the funds that I track:

Total Stock Market: Est= 95%, Actual= 93.8%,
Large Cap: Est= 98%, Actual= 97.1%,
Mid Cap: Est= 84%, Actual= 83.2%,
Small Cap: Est= 73%, Actual= 69.4%.

Also a comparison to December distribution estimates:

Total Stock Market: Est=$0.41, Actual= $0.42890, (reinvest price = $79.53)
Large Cap: Est= $0.37, Actual= $0.38590, (reinvest price = $74.51)
Mid Cap: Est= $1.13, Actual= $1.22230, (reinvest price = $219.97)
Small Cap: Est= $0.39, Actual= $0.42780. (reinvest price = $79.44)
I guess I'll ask...why did Vanguard not round large cap up to 100In past posts it has been pointed out that funds can round to 100% if the number is above 95%.

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Re: Vanguard tax documents now becoming available

Post by iamblessed » Tue Jan 21, 2020 6:07 pm

Last year they were the 27th of Jan.

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Re: Vanguard tax documents now becoming available

Post by abuss368 » Tue Jan 21, 2020 8:06 pm

Yes! I was able to download all tax documents tonight.
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Re: Vanguard tax documents now becoming available

Post by RetiredAL » Tue Jan 21, 2020 9:22 pm

So in spite of some [members --admin LadyGeek] here stating Vanguard's systems not being very good, they clearly can provide their clients their 1099 forms faster than either Fidelity or Schwab does. I say well done Vanguard.

Wells Fargo has been the slowest I've dealt with. Although they sent a preliminary 1099 reasonably prompt, the last few years the finalized/corrected 1099's didn't get issued until late March. Since the previously delaying items were not owned in 2019, hopefully this year will be better.

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Re: Vanguard tax documents now becoming available

Post by UpperNwGuy » Tue Jan 21, 2020 9:36 pm

Mine are not yet available at Vanguard or Fidelity or Schwab. I just checked after seeing this thread. (My Vanguard account is a brokerage account that only holds mutual funds.)

Swansea
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Re: Vanguard tax documents now becoming available

Post by Swansea » Wed Jan 22, 2020 5:40 am

My 1099R from Vanguard was posted some days ago. I went to import the amount into Turbo Tax, but the program would not do it. Anyone have that issue also?

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rkhusky
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Re: Vanguard tax documents now becoming available

Post by rkhusky » Wed Jan 22, 2020 10:33 am

Note that there appears to be a new deduction available that is compiled in Box 5 of the 1099-DIV having to do with Section 199A dividends. See viewtopic.php?f=10&t=301358.
Since the associated Form 8995 is still in draft, perhaps TurboTax will not be able to incorporate it yet.

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Re: Vanguard tax documents now becoming available

Post by tfb » Wed Jan 22, 2020 10:56 am

RetiredAL wrote:
Tue Jan 21, 2020 9:22 pm
So in spite of some lip-flappers here stating Vanguard's systems not being very good, they clearly can provide their clients their 1099 forms faster than either Fidelity or Schwab does. I say well done Vanguard.
The title of this thread is not accurate. Only the 1099-R forms are available from Vanguard. The "normal" 1099-DIV and 1099-B forms are still not available. Vanguard has not provided tax forms any faster.
Harry Sit, taking a break from the forums.

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Re: Vanguard tax documents now becoming available

Post by Nowizard » Wed Jan 22, 2020 11:12 am

My RMD form has been posted, the one for my spouse has not. I guess the 22nd is still considered the "Middle" of January as is posted for dates of availability.

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Re: Vanguard tax documents now becoming available

Post by Bmac » Wed Jan 22, 2020 11:27 am

I wasn’t aware there was a prize for being first to file taxes. What’s the big rush? The garden variety tax forms will be available in plenty of time to file without an extension. I believe some Bogleheads purposely file an extension every year. Regardless of need.

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Re: Vanguard tax documents now becoming available

Post by RetiredAL » Wed Jan 22, 2020 11:30 am

tfb wrote:
Wed Jan 22, 2020 10:56 am
RetiredAL wrote:
Tue Jan 21, 2020 9:22 pm
So in spite of some lip-flappers here stating Vanguard's systems not being very good, they clearly can provide their clients their 1099 forms faster than either Fidelity or Schwab does. I say well done Vanguard.
The title of this thread is not accurate. Only the 1099-R forms are available from Vanguard. The "normal" 1099-DIV and 1099-B forms are still not available. Vanguard has not provided tax forms any faster.
I was responding to this poster who said his B's and DIV's were ready. Often the thread title becomes irrelevant over the course of time.

"by mister_sparkle » Tue Jan 21, 2020 12:23 pm"
"I received a notification from Vanguard today that my 1099-B and 1099-DIV forms were ready."

I also understand why a Mutual House can issue forms quicker than a Brokerage House. One is the tax record source, the other is a tax record aggregator.

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Re: Vanguard tax documents now becoming available

Post by FrugalInvestor » Wed Jan 22, 2020 11:40 am

rkhusky wrote:
Tue Jan 21, 2020 1:00 pm
Just downloaded 1099-B and 1099-DIV from Vanguard. They are dated 1/19/20.
I was able to download the same documents yesterday for my Vanguard mutual fund accounts, also dated 1/19.
Last edited by FrugalInvestor on Wed Jan 22, 2020 11:47 am, edited 1 time in total.
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Re: Vanguard tax documents now becoming available

Post by prd1982 » Wed Jan 22, 2020 11:41 am

Swansea wrote:
Wed Jan 22, 2020 5:40 am
My 1099R from Vanguard was posted some days ago. I went to import the amount into Turbo Tax, but the program would not do it. Anyone have that issue also?
I believe firms like Vanguard do additional testing with TT, H&R Block etc before opening up their import process. I am using H&R Block and asked to import from Vanguard. It said import would be available Feb 1, and to use the paper forms until then. H&R Block didn't ask for my Vanguard ID before giving this message. So this is a blanket message that import isn't working until Feb 1, and obviously also requires the form to be available.

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Re: Vanguard tax documents now becoming available

Post by Big Dog » Wed Jan 22, 2020 11:45 am

prd1982 wrote:
Wed Jan 22, 2020 11:41 am
Swansea wrote:
Wed Jan 22, 2020 5:40 am
My 1099R from Vanguard was posted some days ago. I went to import the amount into Turbo Tax, but the program would not do it. Anyone have that issue also?
I believe firms like Vanguard do additional testing with TT, H&R Block etc before opening up their import process. I am using H&R Block and asked to import from Vanguard. It said import would be available Feb 1, and to use the paper forms until then. H&R Block didn't ask for my Vanguard ID before giving this message. So this is a blanket message that import isn't working until Feb 1, and obviously also requires the form to be available.
Similarly, I received a 1099 in the mail from Fido yesterday, but when I went to download it electronically, it said not available until Jan 31.

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Re: Vanguard tax documents now becoming available

Post by rkhusky » Wed Jan 22, 2020 11:48 am

tfb wrote:
Wed Jan 22, 2020 10:56 am
The title of this thread is not accurate. Only the 1099-R forms are available from Vanguard. The "normal" 1099-DIV and 1099-B forms are still not available. Vanguard has not provided tax forms any faster.
My and others’ DIV and B forms are available from Vanguard. Are ours abnormal?

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Re: Vanguard tax documents now becoming available

Post by tfb » Wed Jan 22, 2020 11:50 am

RetiredAL wrote:
Wed Jan 22, 2020 11:30 am
I also understand why a Mutual House can issue forms quicker than a Brokerage House. One is the tax record source, the other is a tax record aggregator.
But Vanguard has stopped opening new accounts on the funds-only platform and is pushing all existing customers to upgrade to the brokerage platform. Only customers who resisted are getting their tax forms earlier now.
Harry Sit, taking a break from the forums.

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Re: Vanguard tax documents now becoming available

Post by tfb » Wed Jan 22, 2020 11:50 am

rkhusky wrote:
Wed Jan 22, 2020 11:48 am
tfb wrote:
Wed Jan 22, 2020 10:56 am
The title of this thread is not accurate. Only the 1099-R forms are available from Vanguard. The "normal" 1099-DIV and 1099-B forms are still not available. Vanguard has not provided tax forms any faster.
My and others’ DIV and B forms are available from Vanguard. Are ours abnormal?
The title started on Jan. 14. The DIV and B forms weren't available then.
Harry Sit, taking a break from the forums.

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rkhusky
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Re: Vanguard tax documents now becoming available

Post by rkhusky » Wed Jan 22, 2020 12:02 pm

tfb wrote:
Wed Jan 22, 2020 11:50 am
rkhusky wrote:
Wed Jan 22, 2020 11:48 am
tfb wrote:
Wed Jan 22, 2020 10:56 am
The title of this thread is not accurate. Only the 1099-R forms are available from Vanguard. The "normal" 1099-DIV and 1099-B forms are still not available. Vanguard has not provided tax forms any faster.
My and others’ DIV and B forms are available from Vanguard. Are ours abnormal?
The title started on Jan. 14. The DIV and B forms weren't available then.
The forms were becoming available. As in, Vanguard was beginning to upload forms.

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Re: Vanguard tax documents now becoming available

Post by tfb » Wed Jan 22, 2020 12:11 pm

rkhusky wrote:
Wed Jan 22, 2020 12:02 pm
The forms were becoming available. As in, Vanguard was beginning to upload forms.
Customers who followed Vanguard's prompt to upgrade their accounts to brokerage accounts still don't have their 1099-B and 1099-DIV forms. Let's see how long it takes from the time Vanguard began to upload forms.
Harry Sit, taking a break from the forums.

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Re: Vanguard tax documents now becoming available

Post by prd1982 » Wed Jan 22, 2020 12:31 pm

tfb wrote:
Wed Jan 22, 2020 12:11 pm
Customers who followed Vanguard's prompt to upgrade their accounts to brokerage accounts still don't have their 1099-B and 1099-DIV forms. Let's see how long it takes from the time Vanguard began to upload forms.
I just don't see this as much of an issue. I'm using H&R Block software. The forms I need aren't available until Jan 24. Vanguard upload isn't available until Feb 1. My bank usually sends my 1099-INT form the last week of Jan. So having to wait until middle of Feb isn't causing much of a delay. Last year I got my Vanguard brokerage forms on Jan 29th. This year I expect it be several weeks later because I transferred a non-VG fund to my VG account.

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Re: Vanguard tax documents now becoming available

Post by FrugalInvestor » Wed Jan 22, 2020 12:34 pm

FrugalInvestor wrote:
Wed Jan 22, 2020 11:40 am
rkhusky wrote:
Tue Jan 21, 2020 1:00 pm
Just downloaded 1099-B and 1099-DIV from Vanguard. They are dated 1/19/20.
I was able to download the same documents yesterday for my Vanguard mutual fund accounts, also dated 1/19.
I will add that I'm on the original mutual fund platform. I'm calling it 'original' hoping that Vanguard sees this and realizes that like Coke it would be a brilliant marketing and customer retention move to keep platform both platform versions, Brokerage and 'Original' mutual fund for the long-term.
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Re: Vanguard tax documents now becoming available

Post by Swansea » Wed Jan 22, 2020 3:22 pm

prd1982 wrote:
Wed Jan 22, 2020 11:41 am
Swansea wrote:
Wed Jan 22, 2020 5:40 am
My 1099R from Vanguard was posted some days ago. I went to import the amount into Turbo Tax, but the program would not do it. Anyone have that issue also?
I believe firms like Vanguard do additional testing with TT, H&R Block etc before opening up their import process. I am using H&R Block and asked to import from Vanguard. It said import would be available Feb 1, and to use the paper forms until then. H&R Block didn't ask for my Vanguard ID before giving this message. So this is a blanket message that import isn't working until Feb 1, and obviously also requires the form to be available.
Thanks for the information. It makes sense.

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Re: Vanguard tax documents now becoming available

Post by Artsdoctor » Wed Jan 22, 2020 3:35 pm

Vanguard has been pushing, quite hard, for existing accountholders on the old mutual fund platform to "update" to a brokerage platform. And all new accounts are on the brokerage platform. The 1099-DIV forms will not be available to any accountholder on the brokerage platform until mid-February although the exact date is not known.

So perhaps the better title of the thread would be something like "Vanguard tax documents now available for grandfathered accounts only". There should also be a caveat that anyone who converted their grandfathered accounts on the older mutual fund platform last year should NOT assume that the 1099-DIV forms available to them now will be the full year's dividend tallies; the 1099-DIV for the dividends accumulated after the conversion to the brokerage platform will not be available until next month.

Addendum: I may stand corrected, as noted below. However, I do have a brokerage account with only Vanguard mutual funds in it and the 1099-DIV is not available yet. The grandfathered account I have which is not on the brokerage platform had the 1099-DIV available earlier this week. So I can infer that Vanguard's goal would be to release the 1099-DIV for the mutual fund platform now, the brokerage platform with Vanguard funds and ETFs at the end of January, and the brokerage platform for everything else in February.
Last edited by Artsdoctor on Wed Jan 22, 2020 5:28 pm, edited 2 times in total.

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Re: Vanguard tax documents now becoming available

Post by prd1982 » Wed Jan 22, 2020 3:56 pm

Artsdoctor wrote:
Wed Jan 22, 2020 3:35 pm
The 1099-DIV forms will not be available to any accountholder on the brokerage platform until mid-February although the exact date is not known.
Wrong.
As mentioned earlier in this thread: Late January for brokerage accounts with only Vanguard mutual funds and/or ETFs and simple securities that don't typically reclassify income.*

I have a brokerage account, and got my 1099-DIV late Jan last year. I don't expect it until mid-Feb this year because I added a non-Vanguard mutual fund.

I understand a lot of folks don't like the brokerage accounts, and that is fine. But your statement is wrong.

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Re: Vanguard tax documents now becoming available

Post by indyfish » Fri Jan 24, 2020 8:58 am

I have a Vanguard Brokerage account with only Vanguard mutual funds. No 1099-DIV yet. I like to work on taxes early, so the sooner the better for me - but my company had a W2 snafu so I couldn't file my taxes on Monday anyway.

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