2023-2024 Tax Season Resources

LPL Financial 

During the 2023 tax season, in order to meet all IRS deadlines, reduce errors, and reduce the need to mail corrected versions, LPL will be mailing the 1099 Consolidated Tax Statements in weekly phases (see below for schedule).  LPL follows all standard protocols and executes processes similar to other major financial firms by mailing in waves as they receive information from various institutions. For certain security types, final tax information from the bank, institution, or other type of issuer may be received after the standard deadline, resulting in your statement not arriving on the anticipated February mailing date. This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor. Questions for LPL Financial? Call 1-800-558-7567

Mailing Schedule

January 19thForm 1099-R & 1099-Q
January 19th & 26th1099 Consolidated Tax Statement (Includes accounts with the simplest tax information and not subject to income reclassification)
February 2, 9, 16, & 231099 Consolidated Tax Statement (Accounts holding more complex securities, for which issuers provided final tax information after January 26)
February 16thPreliminary 1099 Consolidated Tax Statement – Draft copy. Includes accounts that will not receive a final 1099 Consolidated Tax Statement until all income data is finalized. Includes tax information that investment companies did not furnish to LPL Financial, the broker of record, in time for the anticipated February mailing deadline
March 1st, 8th, & 15thPreliminary 1099 Consolidated Tax Statement for Accounts holding securities that may be subject to income reclassification Accounts holding securities that provide mortgage-backed income reporting information (AMBIR)
LPL AccountView

LPL AccountView

Accessed from your computer, tablet, or smartphone, Account View provides secure, convenient, 24-hour online access to your investment account information. You can access Account View for a free download of your tax statements. Did you know you can elect to have over 55 letters sent via eDelivery for a paperless experience? Last year we introduced the eligibility for tax forms to be paperless. Clients can get faster access to important documents—including tax forms, eDelivery is more secure, and clients have convenient access to important documents from one location, anytime, anywhere.     

New feature: Does your CPA need access to your Account View profile? You can now provide authorized user access (View Only) to your Account View online. You control this setting within the user profile preferences.


How are the values on the 1099-INT, 1099-DIV, and 1099-MISC derived?

  • 1099 INT: Interest income may be derived from interest on bank deposits, accumulated dividends paid by a life insurance company, or income received from debt instruments (including bonds, debentures, notes, certificates, widely held fixed investment trusts WHFIT), real estate mortgage investment conduits
(REMIC), financial assets securitization investment trusts, (FASIT), or from collateralized debt obligations (CDO).

  • 1099 DIV: Dividend income may be derived from distributions received during the tax year from Mutual Fund and Equity securities. Distributions may be qualified dividends, non-qualified dividends, or capital gain distribution. Distributions are subject to income reclassification. Values shown on your client’s
monthly statement may be categorized differently on 1099-DIV.

  • 1099 MISC: Miscellaneous income includes royalties, other income such as awards and settlements, other income such as payments received from notational contracts, and substitute payments in lieu of dividend or interest. Values shown on your client’s monthly statement may be categorized differently on 1099-MISC.

Why did some clients receive a 1099-Consolidated this year when they didn’t receive one last year?
You may have received a 1099-Consolidated this year because they received more than $10 in taxable income in the form of Dividends, Interest, or Proceeds from sales.

I didn’t receive a 1099-R. Why?
If you didn’t receive a 1099-R, there were no reportable distributions in their account in 2023. A 1099-R will be issued when the account has a reportable distribution within the tax year.

Why are there different mailing dates for 1099 Consolidated Statements?
LPL will mail 1099 consolidated tax statements weekly as information is received from various institutions. For certain security types, final tax information from the bank, institution, or other type of issuer may be received after the standard deadline, resulting in your statement not arriving on the anticipated February mailing date.

Preliminary 1099 Consolidated Tax Statement: What is it and what do I need to know?
A preliminary 1099 Consolidated Tax Form Statement is an advanced one-time draft copy of your 1099 tax forms. If your 1099 Consolidated Tax Statement is not available on or before the anticipated February mailing date, you’ll receive a preliminary 1099 Consolidated Tax Form Statement. Preliminary 1099 Consolidated Tax Form Statements will be available online on Account View or through your financial professional, not mailed. 

Please note: The draft form should not be considered final and should not be used for the purpose of filing tax returns with the IRS or with any state or other regulatory authority. All pages of the document are for your information only and may assist you with tax preparation.

I use Turbo Tax, can my LPL information be linked to that software? 

New this year! If you use TurboTax or H&R Block, you will be able to import the information shown on the original or corrected 1099 tax information statement directly into the software by using the full 8-digit LPL account and 11-digit Document ID listed on your tax statement.

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