Report your Schwab Intelligent Portfolio Fair Fund Distribution as Other Income if you do not receive any forms.
To report Other Income:
- Click Federal in the left column
- Click Wages & Income
- Scroll down to Less Common Income. Tap Show more
- Select Miscellaneous Income, 1099-A, 1099-C
- Select Other reportable income
- Say Yes to Any Other Taxable Income?
- Enter a description (Schwab Intelligent Portfolio Fair Fund Distribution) and amount ($xxx)
Schwab says you may receive a 1099-INT based on the amount of the interest paid with the distribution. You may also receive a 1099-MISC if your distribution is greater than the reporting requirement of $600. If those apply, enter the amounts according to the form you receive.
See Schwab Intelligent Portfolios Fair Fund Information.
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