I opened a fidelity brokerage account in 2023 and invested in some stocks that have dividends. I can look at the history of this account and I have definitely received dividends that were placed in some "government money market fund" (SPAXX). I am in the process of preparing taxes and fidelity is saying I have no tax documents for 2023. I'm a bit surprised that there is no 1099-DIV. I've reached out to fidelity but haven't heard back yet. Has anyone else experienced something similar?
I received my Fidelity consolidated brokerage statement before Jan 31. Do you not have any tax documents? If not, nothing has been reported to the IRS.
But does nothing reported to the IRS mean there is no action required by me or do I now have to go add up the dividends myself?
If Fidelity doesn't report, the IRS doesn't know they exist. I looked up SPAXX and it is a taxable fund so I have no idea why you didn't receive a 1099. You can always file an amended return, if necessary (especially if the dividend income is less than a few thousand).
Bro just call fidelity
You checked that you received your dividends in 2023, not 2024, right? And you've logged into your fidelity account and looked at the "tax documents" section, or whatever it's called, for 2023 (not 2024), right? I.e. don't just assume you'd get an email or something about it (though you should have) If it's neither of those things, idk, I'd be reaching out to fidelity too.
Most brokerages let you download the tax forms from your account
Dividends may be in other forms, such as K-1, 1099-B, etc., depending on the structure of the concrete fund.
Under Account & Trade tab, click on Tax Forms & Information. Click "View your tax forms" button. Select Time Period 2023. There should be a consolidated Form 1099. Near the end of the PDF you should see the 1099-DIV. I had like 7 dollars dividend and got the tax form.
I was able to talk to a fidelity representative and they told me the website sometimes fails to generate tax documentation and they sent me a consolidated 1099. They also said the tax documentation can be downloaded from the fidelity mobile app, which also worked for me. Be careful out there!
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