Important Tax Info

Several years ago the IRS changed when fund companies had to have their final numbers out for capital gains, income, etc. They bascially have until mid February which means your brokerage account 1099s and other tax documents may not be finalized until the 2nd or 3rd week of February.

The good news, Pershing does post "draft" versions to your NetxInvestor site. There may be an adjustment done to your final numbers later in February but you can at least have your taxes almost done. You can also give your CPA the draft documents. In fact, they would probably appreciate having the draft version so they can get an early start on your tax return as well.

Remember, if you signed up for paperless delivery of your statements and documents you will need to log onto to retrieve your tax statements. Log in and click on “Communications” and then on “Tax Documents”.

If you have accounts with any third party investments through us then you will get those tax documents directly from those investment firms.

We also get questions each year about rollovers. If you rolled over an IRA, 401k or other retirement account in the previous year, you will received a 1099 from the previous company. This is not them saying you owe taxes. It is them letting you know what they are sending to the IRS. It is your responsibility to make sure your tax return reports the rollover as non taxable on your taxes (assuming it was fully rolled over into an IRA). 

Let us know if you have any questions.