Which tax forms can I expect?

Your account type and transactions will determine whether or not you receive a tax form. If your account received any tax forms, you can retrieve them by going to the tastyworks Tax Center.

All tax form email notifications sent by our clearing firm, Apex Clearing, are sent from taxnotification@isecurus.com.

Individual and Entity Accounts

Domestic, Non-IRA accounts receive a Consolidated Form 1099

Non-qualified accounts (non-retirement) will receive a Consolidated Form 1099 if at least one of the following conditions applies during the tax year. Retirement accounts do not receive a Consolidated 1099. To view our Consolidated 1099 Guide, please click here.

You will receive a Consolidated 1099 if your account:

  • Had a closing transaction
  • Had an option expire worthless
  • Participated in a corporate action, such as a tender offer
  • Earned at least $10 in interest (1099-INT)
  • Earned at least $10 in dividends (10990-DIV)
  • Had an Original Issue Discount (OID) that was valued at least $10 (1099-OID)
  • Earned at least $10 in miscellaneous income

If you do not fall under any of the categories above, then that means your account will not be issued a Consolidated 1099, which means that you will not find a Form 1099 in our Tax Center. Our clearing firm does not report interest earned below $10 as income. However, if you earned any amount under $10, then you may refer to your monthly statements for tax reporting purposes.

Although C-Corporation (C-Corp) accounts are generally a taxable entity, they do not receive a complete Consolidated 1099 due to how they are structured. As a result, if you have a C-Corp. account at tastyworks, then you will see not see a total P/L listed on the Tax Summary page. C-Corporations are generally responsible for reporting their overall performance based on the financial statements prepared by the corporation. C-Corp account holders can use the tax worksheets listed in the tax center to reconcile their prior calendar year performance.

Futures 1099

Did you trade any Smalls, CME futures, or options on futures? If so, then you will receive a Form 1099-B Futures, also referred to as a Substitute 1099 Statement, in addition to your Consolidated 1099 if you realized any securities position. However, if you only traded futures, then you will only receive a Form 1099-B Futures. Your Futures 1099-B is generally a single page and lists your overall gain/loss per month, as well as your aggregate gain/loss for the year (line 11). To learn more about futures tax reporting, please click here.

Retirement Accounts (IRA & SEP)

Did you make a Contribution or a Distribution?

Any contribution(s) made to any qualified retirement account will receive a Form 5498. On the other hand, distribution(s) from any qualified retirement account will receive a Form 1099-R. To view our IRA Tax Form Guide, please click here.

International Accounts

Did you receive any income?

International customers that receive income that is subject to tax withholding will generate a Form 1042-S. Dividend payments and interest payments are some examples of income that may be subject to tax withholding.  To view our Form 1042-S Guide for International customers, please click here.