IMPORTANT NOTICE
Clients Converted from Betterment to Altruist in 2024
If you converted to Altruist from Betterment in 2024, clients will receive two consolidated 1099 forms for tax reporting:​​
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From Betterment: Covers reportable activity on Betterment brokerage accounts from January 1st through your conversion to Altruist (Pre-Conversion).
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From Altruist: Covers reportable activity on Altruist brokerage accounts from your conversion to Altruist through December 31, 2024 (Post-Conversion).
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​​​​​​​​​​Please ensure you use both 1099s when filing your taxes.
Altruist's Tax Form Schedule
Consolidated 1099s - Wave One (January 31st)​​​​​
This is a single tax document that combines multiple 1099 forms, such as 1099-DIV (dividends), 1099-INT (interest), and 1099-B (capital gains and losses). This first wave includes interest earned from cash accounts.
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Consolidated 1099s - Wave Two (February 28th)
This is a single tax document that combines multiple 1099 forms, such as 1099-DIV (dividends), 1099-INT (interest), and 1099-B (capital gains and losses). This second wave covers taxable investment accounts.​
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Form 1099-R (January 31st)
This is a tax form used to report distributions (withdrawals) from retirement accounts including IRAs, 401(k)s, and other qualified plans. If withdrawals have been made over the past year, you'll receive this tax document. ​​​
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​For more information on additional tax documents and how to download your forms, visit the Altruist Tax Center.​​​​
Betterment's Tax Form Schedule
Form 1099-INT (January 31st)​​​​​
This is a single tax document that combines multiple 1099 forms, such as 1099-DIV (dividends), 1099-INT (interest), and 1099-B (capital gains and losses). This first wave includes interest earned from cash accounts.
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Form 1099-DIV (February 18th)
This is a single tax document that combines multiple 1099 forms, such as 1099-DIV (dividends), 1099-INT (interest), and 1099-B (capital gains and losses). This second wave covers taxable investment accounts.​
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Form 1099-B (February 18th)
This is a single tax document that combines multiple 1099 forms, such as 1099-DIV (dividends), 1099-INT (interest), and 1099-B (capital gains and losses). This second wave covers taxable investment accounts.​
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Form 1099-R (January 31st)
This is a tax form used to report distributions (withdrawals) from retirement accounts including IRAs, 401(k)s, and other qualified plans. If withdrawals have been made over the past year, you'll receive this tax document. ​​​
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​For more information on additional tax documents and how to download your forms, visit the Betterment Tax Center.​​​​