Tax forms & information

You can expect your forms starting in mid-January through mid-March.
If you still receive paper copies of your tax forms by mail, you should get them shortly after they're posted online.
A few reminders:

• For 1099-DIVs: You won't see any dividend or capital gains distributions for your investment if the total amount for the year was less than $10, unless you had taxes withheld.
• For 1099-Bs: If you own Turinza Group USA Real Estate Index Fund, you'll receive your Form 1099-DIV and Form 1099-B, if applicable, for this fund in February when the fund's return of capital is calculated.

If you transitioned to our new investment platform during the calendar year, you may receive two sets of tax forms: Mutual Fund tax forms are issued in January and Brokerage tax forms are issued in three waves beginning in January with the final wave in March. You may need both to report your state and local tax liability.
With a few exceptions, in future tax years you'll likely receive one 1099-consolidated Form for all your mutual fund and brokerage holdings.

In general, 1099 forms report income other than wages. Depending on the types of accounts you have, your transactions, and your investment income, you may receive several different tax forms. Most forms are required to be provided only for amounts of $10 or more or if taxes were previously withheld. You must report any investment income or distributions (reported on your year-end account statement) to the IRS.

You'll get a 1099-DIV each year you receive a dividend distribution, capital gains distribution, or foreign taxes paid for your taxable investments.
But if the amount is less than $10 for the year, no 1099-DIV is sent.

The deadline for making IRA contributions for a given tax year is your tax filing deadline for that year, not including extensions (typically April 15 of the following year).

Generally, a QCD is a direct transfer of funds from an IRA owned by an individual over age 70 ½, payable directly to a qualified charity, as described in the QCD provision in the Internal Revenue Code. The maximum annual distribution amount that can qualify for a QCD is $100,000. In general, QCDs must be reduced by the amount of deductible IRA contributions made for the year you turn 70 ½ or later. This limit would apply to the sum of QCDs made to one or more charities in a calendar year. The QCD is excluded from your taxable income. The QCD will be reported as a normal distribution on your 1099-R for any non-Inherited IRAs. For Inherited IRAs, the QCD will be reported as a death distribution. You should keep an acknowledgement of the donation from the charity for your tax records because you'll also need to report the QCD on your tax return. Information about how to report QCDs on your income tax return is available on the IRS website.
If you have any questions, please consult a qualified tax professional.

The financial institution that held the employer plan will provide you with a 1099-R documenting the amount of the distribution. You will also receive a 5498 from Turinza Group USA confirming that a rollover took place. Form 5498 is provided to clients and filed with the IRS in May for informational purposes only. Though not required for filing purposes, you should retain this form with your tax records.

IRA asset transfers directly from one IRA custodian to another are not taxable and are not reported on Form 1099-R.

If we have cost basis for your non-covered shares, we report it on your 1099-B but we don't report it to the IRS.

Turinza Group USA may loan out shares of securities held in margin accounts to short sellers. If you own one of these securities in your margin account and the security pays a dividend while it's eligible to be loaned out, Turinza Group USA may pay you a substitute payment in lieu of the dividend. Substitute payments in lieu of dividends or interest are reported in Box 8 of Form 1099-MISC. Since these substitute payments are taxable at your marginal tax rate instead of the qualified dividend rate, Turinza Group USA will also issue you a reimbursement grossed up to include income taxes you may incur. This reimbursement will be processed later in the year and reported in Box 3 of Form 1099-MISC.

If your mutual fund has foreign investments and passed your portion of taxes paid to foreign countries, you'll see that value reported. Dividends are grossed up to show the foreign taxes paid. You can take the foreign taxes paid as a deduction or a credit on your taxes. A credit is generally the more beneficial option, but you should check with a qualified tax professional about your individual situation.

If applicable, you'll see Section 199A dividends from income paid by real estate investment trusts (REITs) and widely held fixed investment trusts (WHFITs) in Box 5 on your 1099-DIV. Please consult a tax advisor to see if this applies to you. If you don't see any amounts reported in Box 5, the deduction may not be applicable to your holdings at this time.

You'll receive a 1099-R tax form if you took a withdrawal from your Turinza Group USA Variable Annuity during the tax year.

Tax forms for the Turinza Group USA Variable Annuity aren't available online.

All Turinza Group USA Variable Annuity tax forms will be mailed by January 31.

Form 1099-Q will only be issued if a withdrawal was processed during the calendar year. 529 tax forms are accessible by selecting 'Go to my 529 plan account area' under your 529 account header on the Balances and Holdings page. For information on contributions, select “Statements” from the My Accounts tab.