You'll need to sign in or create an account to connect with an expert.
It depends. According to VolvoGirl in this Turbo Tax post, 1099B's should be sent out Jan 31. There is no time limit to send out corrected copies though and often it could be mid/late March until you receive them.
But for the initial consolidated 1099, I understand it must be postmarked by February 15th. In my experience with other brokerages, they post electronically by that date and within a week I also received the paper copies.
As mentioned in the original post, one brokerage firm has been consistently late for 6 years in a row. Should that be reported to IRS?
No, you shouldn't report them to the IRS.
Here is an excerpt from the instructions for filing General Instructions for Certain Information Returns (2021):
"Except as indicated below, file Forms 1097, 1098, 1099, 3921, 3922, or W-2G on paper by February 28, 2022, or March 31, 2022, if filing electronically."
And later:
"Extension of time to file. You can get an automatic 30-day extension of time to file by completing Form 8809. The form may be submitted on paper, or through the FIRE System either as a fill-in form or an electronic file. A signature or explanation may be required for the extension. However, you must file Form 8809 by the due date of the returns in order to get the 30-day extension. Under certain hardship conditions, you may apply for an additional 30-day extension." IRS instructions
So while I understand why you are frustrated with the delay, technically they can mail it to you as late as March 31, or April 30, if they are impacted by a hardship.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
mitchden1
Level 3
bmwnuke
Returning Member
jramir23
Returning Member
8634522cc571
New Member
munoz124
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.