We'll begin issuing 2023 tax-reporting statements starting January 24, 2024, and, in most cases, mail or post them to the Tax Documents section of your online account by February 28, 2024.

With paperless delivery, we'll notify you when your documents are ready. You can confirm or update your delivery preferences to Paperless, and we'll email you when new documents are available online.

What's a Consolidated 1099, and will I receive one?

A Consolidated 1099 is a summary of individual accounts' 1099 tax forms.

We'll prepare a Consolidated 1099 for any client who, based on the type of account they have or securities they hold, has had a reportable event in 2023. These include, but are not limited to, sales of securities as well as dividends or interest income received in taxable accounts. If there aren't any reportable events, you may not receive a Consolidated 1099.

Please note: 1099-R forms will be sent separately from your Consolidated 1099 tax statement.

What might delay Consolidated 1099s?

We make every effort to provide accurate statements as early as possible — however, certain events can delay reporting. If your account holds securities that have not provided final income classification, have notified us of revised income classification or have a history of late income reclassification, these events could affect the timing of your tax statements. In these cases, in order to validate the information we provide and minimize the number of corrected tax statements you receive, we request an extension with the IRS through March 18, which means that affected 1099s may not be available until that time.

Why isn't my tax statement available online?

How will I receive my statements if I have multiple accounts?

If you have more than one account, you may receive tax statements at different times, depending on your account holdings and income activity. Make sure you've received all of your statements before you complete your tax return since filing taxes early may require an amended return.

In addition:

Online documents are posted to each account as they become available.
If your account statements are linked and you're eligible to receive multiple tax statements, we'll package and mail them in the same envelope.

View all tax-related FAQs

Cost-basis FAQs

What is cost basis?

Cost basis is generally the price at which you purchased or acquired a security, including all commissions and fees. This information is important to you because it may be required information when completing your tax returns. Cost-basis reporting regulations issued by the IRS in 2010 require all brokers to report to their clients and to the IRS the adjusted cost basis of "covered securities" that are sold during the tax year.

How do I update my cost-basis information?

What is adjusted cost basis?

What is a tax lot?

A tax lot is the number of shares in the same security acquired at the same time. In general, each tax lot will have a different purchase price. As a result of IRS cost-basis reporting regulations that took effect at the beginning of 2011, the cost basis for some of your tax lots may be reported to the IRS while the cost basis for other tax lots will not, depending on the date of purchase. If you choose the specific identification method of cost basis calculation, you can select which lots to sell to have more control over your reported gains and losses. Lot specification is regulated by the IRS and must be executed prior to settlement.

How do I calculate the cost basis of a stock that has split?

View all cost-basis FAQs

Learn & plan

Select for RMD calculator Required Minimum Distribution (RMD) Calculator Go to third-party website for access to IRS withholdings calculator

Tax-efficient investing

Always remember your taxes when you make investment decisions.

Getting ready for taxes: Review this list first

Tax-smart investment strategies you should consider

Retirement & taxes

Build up your investments — and lower your tax bill.

Get to know tax-advantaged IRAs

Roth IRA conversion calculator

Tax-savvy college savings plans

Discover how 529 college plans may help you save for higher education.

Learn more about 529 plans

529 plan state tax calculator

Estate planning & inheritances

Minimize gift and estate taxes, and preserve more assets for loved ones.

Estate-planning checklist

What are your choices when you inherit an IRA?

Footnote
Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
Footnote ¹ Dates may vary. Check with your tax advisor or the IRS.

Footnote ² We produce tax documents at different times, and we post account documents when they're available. If you have more than one account, you may receive additional tax documents. Please make sure you receive all of your tax documents before you complete your tax return.

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Investment products offered through MLPF&S and insurance and annuity products offered through MLLA:

Are Not FDIC Insured	Are Not Bank Guaranteed	May Lose Value
Are Not Deposits	Are Not Insured by Any Federal Government Agency	Are Not a Condition to Any Banking Service or Activity

Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.

Asset allocation, diversification, and rebalancing do not ensure a profit or protect against loss in declining markets.

Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

This material is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. Additional information is available in our Client Relationship Summary (PDF).

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation ("BofA Corp."). MLPF&S is a registered broker-dealer, registered investment adviser, Member Securities Investor Protection (SIPC) popup and a wholly owned subsidiary of Bank of America Corporation ("BofA Corp").

Merrill Lynch Life Agency Inc. (MLLA) is a licensed insurance agency and wholly owned subsidiary of BofA Corp.

Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.

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Merrill waives its commissions for all online stock, ETF and option trades placed in a Merrill Edge^® Self-Directed brokerage account. Brokerage fees associated with, but not limited to, margin transactions, special stock registration/gifting, account transfer and processing and termination apply. $0 option trades are subject to a $0.65 per-contract fee. Other fees and restrictions may apply. Pricing is subject to change without advance notice.

For broker-assisted trades through Merrill Edge, you will be charged a fee equal to the lower of $29.95 or 5.00% of the principal amount of the transaction. Further, there are indirect fees, such as annual management and other similar fees, that are charged by the manager or sponsor of an exchange-traded fund and of a closed-end fund, as disclosed in the product's prospectus.

Investment products offered through MLPF&S and insurance and annuity products offered through MLLA:

Are Not FDIC Insured

Are Not Bank Guaranteed

May Lose Value

Are Not Deposits

Are Not Insured by Any Federal Government Agency

Are Not a Condition to Any Banking Service or Activity

Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.

Asset allocation, diversification, and rebalancing do not ensure a profit or protect against loss in declining markets.

The performance data contained herein represents past performance which does not guarantee future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. For performance information current to the most recent month end, please contact us.

Net Asset Value (NAV) returns are based on the prior-day closing NAV value at 4 p.m. ET. NAV returns assume the reinvestment of all dividend and capital gain distributions at NAV when paid.

Market price returns are based on the prior-day closing market price, which is the average of the midpoint bid-ask prices at 4 p.m. ET. Market price returns do not represent the returns an investor would receive if shares were traded at other times.

Returns include fees and applicable loads. Since Inception returns are provided for funds with less than 10 years of history and are as of the fund's inception date. 10 year returns are provided for funds with greater than 10 years of history.

Before investing consider carefully the investment objectives, risks, and charges and expenses of the fund, including management fees, other expenses and special risks. This and other information may be found in each fund's prospectus or summary prospectus, if available. Always read the prospectus or summary prospectus carefully before you invest or send money. Prospectuses can be obtained by contacting us.

Expense Ratio – Gross Expense Ratio is the total annual operating expense (before waivers or reimbursements) from the fund's most recent prospectus. You should also review the fund's detailed annual fund operating expenses which are provided in the fund's prospectus.

Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation ("BofA Corp.").

Merrill Lynch Life Agency Inc. (MLLA) is a licensed insurance agency and wholly owned subsidiary of BofA Corp.

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