March 9, 2017. By Courtney Faria

As we find ourselves yet again in the full-swing of tax season, we would like to post a friendly reminder regarding the distribution of your tax documents. Rest assured that we will deliver any applicable forms in a swift and efficient manner once they have all been gathered and checked for amendments.  Here is a general timeline of when you can expect your documents:

  • 1099, 1099-R, and 5498 forms for retirement and taxable accounts: These are the most standard documents requested by your CPA, and many have already been made available by Fidelity. We will begin distributing these during the third week of March.
  • K-1 forms from alternative investments: Due to the nature of the extensive accounting needed to operate these investments, K-1 forms are available later than most tax documents.  While some will be available sooner than others, we anticipate that estimated K-1’s, and possibly some finals, will be available in April 2017, with all final versions available in July 2017.  For example, Panther Properties estimates that their final K-1’s will be available in April, however Cross Shore anticipates availability in July. In either case, we will deliver these promptly upon receipt.
  • 529 Year-end Statements for college savings plans: Year-end statements are sent directly from BlackRock per the preferred method indicated on your initial application. Kindly note that tax regulations for 529 plans vary state-by-state and a deduction is not guaranteed. Therefore, please consult with your CPA before filing for any deductions.  We can access your statements as well if you have misplaced your copy, however in this height of tax season, please allow two business days for us to gather 529 statements for you.

If you have not done so already, please be sure to inform our office if you have any changes to the delivery preference for the above referenced forms, or if perhaps you have changed your CPA this year.  We understand that the gathering of tax information can be stressful. If you prefer, we are happy to communicate directly with your CPA with you on the phone, or copy him/her on such correspondence to help expedite the filing process for you.

Please feel free to contact me with any questions at all regarding the timing, method, or status of the delivery of your tax documents.