Tax Resources Center | TD Ameritrade (2024)

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Now, let's delve into the concepts mentioned in the provided article:

1. 1099 Deadline Myth Buster:

   • This section dispels the misconception that brokerage account 1099 forms must be in the mail by January 31. It clarifies that a consolidated 1099 should be postmarked by February 15. This is crucial information for individuals expecting these forms for tax filing.

2. Form 1099 OID - Original Issue Discount:

   • The article discusses the reporting of tax-exempt original issue discount (OID) on Form 1099-OID for covered securities. It highlights that TD Ameritrade won't report tax-exempt OID for non-covered lots. This information is essential for investors with covered securities and helps them understand the reporting process.

3. Wash Sales:

   • The article provides a concise summary of wash sales, their complexity in tax reporting, and explains where they apply. It emphasizes the importance of understanding who tracks what for tax purposes concerning wash sales, which is crucial for investors looking to navigate these regulations.

4. Maximizing Tax Savings:

   • This section offers six tips to maximize tax savings. It serves as a valuable resource for individuals looking to optimize their tax positions and make informed decisions, especially during the tax season.

5. Late-Year Retirement Checkups:

   • Focusing on retirement accounts, this article encourages individuals to give their retirement accounts a checkup towards the year-end. It underlines the importance of such checkups and suggests automation as an even better approach. This advice is pertinent for those planning for their retirement and seeking efficient strategies.

6. Tax Liability in an IRA:

   • The article sheds light on the tax implications of Individual Retirement Accounts (IRAs). It explains the tax-favored nature of traditional IRAs and how contributions may be deductible from taxable income. This is valuable information for individuals considering or managing IRA accounts.

7. Tax Myth Buster: Corrected 1099s:

   • Providing insights into corrected 1099s, this section helps readers understand why they might receive such forms. It is essential information for individuals who might be confused or concerned about corrected tax documents and their implications.

8. Dividend Reinvestment Plan (DRIP):

   • Discussing the potential growth of savings through the Dividend Reinvestment Plan (DRIP), this article targets individuals not dependent on dividend income. It offers an alternative strategy for automatically growing savings, which could be beneficial for certain investors.

9. Understanding Options Tax Reporting:

   • Tailored for option traders, this article acknowledges the complexity of options tax reporting and offers assistance, recognizing that even savvy traders may need help at tax time. It serves as a guide for navigating the tax implications of options trading.

10. IRS and Tax Forms:

    • The article concludes by directing readers to a convenient place to access all important tax filing forms. This is a practical resource for individuals who want easy access to the necessary paperwork for their tax filings.

In summary, the provided article covers a diverse range of topics related to taxes, investments, and financial planning, providing valuable insights and practical tips for readers.