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Tax Center

Your source for helpful tax information for you and your advisor as you prepare for the upcoming tax filing season

Log in to access your tax documents

Client login Advisor login

What to expect

Looking for your tax forms? 

You can easily access your tax forms by navigating to Documents in your Altruist Client Portal. Within the documents table, you can use the Tax Documents Type filter to easily locate all your forms. 

1099-Consolidated tax forms (including 1099-DIV, 1099-B, 1099-INT, 1099-OID, and 1099-MISC) will be issued from Altruist in two phases based on the complexity of your financial portfolio. The first wave will be available on January 31, with the final wave issued by February 28.

If corrections are needed, scheduled correction runs will begin March 1 and occur bi-weekly as necessary. These corrections may impact your tax filing and deadlines, so please keep this in mind

Important notice for advisors and clients who converted to Altruist from SSG and Pershing in 2024
If you converted to Altruist from SSG and Pershing in 2024, clients will receive two consolidated 1099 forms for tax reporting:
  • From Pershing: Covers reportable activity on Pershing brokerage accounts from January 1 through your conversion to Altruist (pre conversion).
  • From Altruist: Covers reportable activity on Altruist brokerage accounts from your conversion to Altruist through December 31, 2024 (post-conversion).
Please ensure you use both 1099s when filing your taxes.

Tax form schedule

Consolidated 1099 (Wave 1)
Simple dividends, interest, sales, and miscellaneous income.
January 31
Consolidated 1099 (Wave 2)
Complex dividends, interest, sales, miscellaneous income, income reallocation, and Unit Investment Trusts (UIT).
February 28
Corrected Consolidated 1099s
Corrected forms may be issued for various reasons, such as reallocations of dividend or interest payments by security issuers, updates to cost basis information, or adjustments due to wash sales. These amendments are marked with the letter "C" on the form.
March - April
480.6 A,B,C,D (Puerto Rico)
Payment of dividends, interest, rent, salaries, wages, premiums, annuities, compensations, remuneration, or other fixed or determinable gains, profits, and income.
February 28
1099-R
Distributions of $10 or more from: profit-sharing or retirement plans, IRAs, annuities, pensions, insurance contracts, survivor income benefit plans, permanent and total disability payments under life insurance contracts, charitable gift annuities, etc.
January 31
Form 5498
Details IRA contributions, required minimum distributions (RMDs), Roth IRA conversions, rollovers, and the fair market value (FMV) of IRA accounts.
May 31
Form 2439
Provide shareholders of a regulated investment company (RIC) or a real estate investment trust (REIT) the amount of undistributed long-term capital gains.
April 1
Form 592-B (California)
7% California state tax withholding on sales transactions, dividends, and interest.
January - March 15
Schedule K-1/Form 1065 Partner's Share of Income, Deductions, Credits, etc.
Distributions from partnership securities and other items being passed through to the partners (holders of the security) The partnership admin should mail the K-1 by March 15th, unless the Partnership filed an extension. Client proceeds from the sale of units in their accounts will be reported on their 1099-B section of their consolidated 1099.
Altruist DOES NOT generate this form but clients may receive from partnership investments.

What can I do right now?

Verify your email address
Verify your email address on your Client Portal. We will email you when your tax documents become available.
Download our guide
(Coming soon)
Tax Forms Essentials for 2024 is your go-to guide for understanding and managing the various tax forms you may receive from Altruist.
Review the FAQs
Scroll down to see answers to our most frequently asked questions.

Frequently asked questions

Receiving and accessing tax documents

  • By default, your clients will receive their tax documents electronically. An email alert will be sent whenever a new tax document is ready on the Altruist Client Portal. The email notifications will be delivered by AltruistFinancialLLC@investordocuments.com. Clients with an invalid email address in our system will automatically receive their tax documents via U.S. Mail. Regardless of chosen delivery method, all tax documents are accessible through the Altruist Client Portal at any time. As a best practice, verify the email address your clients have on file for accuracy.
  • Advisors and clients may retrieve copies of client tax documents by navigating to the Documents tab within a Household. Select an Altruist account (top left dropdown next to household name) and filter by "Tax Document" (above documents table to the right) to view and download.
  • For Altruist House Accounts, a Form 1099-INT is issued only if your account earns more than $10 in interest within the year. As Altruist does not handle advisory fees directly, no 1099-MISC form is generated for these transactions. However, you can easily access a detailed report of the fees you've received. Here’s how:
    1. After logging into Altruist, navigate to the left-hand side menu. 
    2. Click on “Reports” and then select “Advisory Fee Report.” 
    3. Choose “Executed Invoices” 
    4. Set the desired “Start” and “End” dates to filter the report by invoice execution date. 
    5. Click on “Generate & Download” to obtain the report in a CSV format. 
    Note: Be sure to exclude any fees related to externally connected custodial accounts for which the external custodian issues a 1099-MISC. The report includes a 'Custodian' column to help you identify these accounts.  For more information on running the Advisory Fee Report, check out our Help Center Article.
  • Non-profit organizations are exempt from taxation, and therefore, Altruist does not issue 1099 tax documents for non-profit brokerage accounts. We provide consolidated 1099 forms only to taxable accounts that accrue over $10 in income.
  • Yes, your clients can easily import all Tax forms into TurboTax using their unique document IDs located at the top of each form.
  • Yes, Quicken has an integration with Altruist through Intuit's data aggregation service. It currently allows your clients to pull account balances and positions into Quicken with their Altruist login. Transaction history is not supported at the moment but the Altruist team is working with Intuit to improve the integration.

Tracking contributions and distributions

  • Advisors can easily track all IRA contributions with our new IRA Dashboard feature. This view provides comprehensive details about contribution activities including IRA account name, YTD contributions, tax year maximum, projected contributions, and more. 
    1. Navigate to “Clients” in the left hand navigation menu.
    2. Click on "Retirement" to access a firm-wide view of all IRA activity across your client accounts held at Altruist.
    3. The Contributions tab is selected by default when you access the Retirement section.
    4. To view this information presented at a household-view, navigate to the household and scroll down to the “Retirement” section to see IRA activity tailored to that household.
  • Advisors can easily track all IRA distributions with our new IRA Dashboard feature. This view provides comprehensive details about distribution activities and is helpful to managing RMDs. 
    1. Navigate to “Clients” in the left hand navigation menu.
    2. Click on "Retirement" to access a firm-wide view of all IRA activity across your client accounts held at Altruist.
    3. The Contributions tab is selected by default when you access the Retirement section. To view distribution activities, select the Distributions tab. 
    4. To view this information presented at a household-view, navigate to the household and scroll down to the “Retirement” section to see IRA activity tailored to that household. 
  • You can easily access a detailed report of the fees you've received. Here’s how:
    1. After logging into Altruist, navigate to the left-hand side menu. 
    2. Click on “Reports” and then select “Advisory Fee Report.” 
    3. Choose “Executed Invoices” 
    4. Set the desired “Start” and “End” dates to filter the report by invoice execution date. 
    5. Click on “Generate & Download” to obtain the report in a CSV format. 
    For more information on running the Advisory Fee Report, check out our Help Center Article.

Amended and corrected tax document

Receiving and accessing tax documents

  • The tax documents you receive from Altruist vary depending on your account type and the nature of your investments during the tax year. For retirement accounts, you may receive a Form 1099-R and/or Form 5498. If you have taxable accounts, you can expect a Consolidated Form 1099 and/or Form 2439 and/or Puerto Rico Form 480.6A, B, C, or D.

  • By default, your tax documents will be delivered to you electronically. An email alert will be sent whenever a new tax document is ready on the Altruist Client Portal. The email sender will be AltruistFinancialLLC@investordocuments.com. If you have an invalid email address in our system, you will automatically receive your tax documents via the U.S. Mail. If you prefer to receive tax documents by postal mail, please contact our support team at support@altruist.com. Regardless of your chosen delivery method, all your tax documents are accessible through the Altruist Client Portal at any time.

  • You can easily access all your tax documents on the Altruist Client Portal by following these steps:

    1. Log into your Altruist Client Portal.
    2. Click on your initials in the top right corner to open a menu drawer.
    3. In the drawer menu, select 'Documents'.
    4. You will find a Documents table which can be filtered by account name, account type, or time period to help you find what you need more efficiently.

  • Log in to your Client Portal on Altruist. Click on your initials in the top right corner and select Settings from the drawer. Your contact information including your email address and home address can be updated in the Profile tab. After making any changes, click on Save. 

    Next, navigate to the Accounts tab. Review each account’s contact information for any changes you’d like to make to the address or email of record under Personal Details.

  • For questions related to understanding your tax documents, we advise consulting with your tax advisor. If you need updates or changes to the tax documents you received, please reach out directly to your advisor to request these modifications. 

  • By default, your tax documents will be delivered to you electronically to your email address on record. You can also access your tax documents on your Altruist Client Portal by navigating to documents after logging into your account. If you wish to change your delivery preferences for tax documents, you can email our support team at support@altruist.com. 

  • There are a few reasons why you might not have received a tax document:

    1. You didn't have any reportable activity during the year, or your investment activity didn't meet the minimum reporting threshold of $10. This can occur if you only made purchases without any sell transactions, or if you didn't receive any dividends or interest payments.
    2. If you have retirement accounts but did not take any distributions, you wouldn't receive certain forms. For retirement accounts, Form 5498 is issued for contributions (including rollovers) to any IRA, while Form 1099-R is for distributions from qualified retirement plans like individual 401(k)s, profit-sharing, and money-purchase plans, or any IRAs, including recharacterizations.

     

  • A Corrected Form 1099 can be issued for various reasons, such as reallocations of dividend or interest payments by security issuers, updates in cost basis information, or adjustments due to wash sales, among others. These amendments are marked with the letter “C” on the form. If you've already filed your taxes, it's advisable to consult with your tax professional about the corrected document to see if an amended tax return is needed. If you haven’t filed your taxes yet, make sure to use this most recent corrected version for filing your return.

  • You can import all Tax forms into TurboTax using their provided document IDs. 

Retirement contributions

  • You have until April 15, 2025, to contribute to your traditional or Roth IRA and have it count as a 2024 contribution. If you prefer to mail a check for your IRA contribution, it must be postmarked by April 15, 2025, and designated as a 2024 contribution to be accepted for the prior tax year.

  • Make sure your check deposits are made payable to Altruist Financial LLC. Our address is
    Altruist Financial LLC
    300 S. Pearl Expressway
    Suite 250
    Dallas, TX 75201 

    Checks for deposit must include your Altruist 8-digit account number and account holder’s name in the memo field on the check. Please also remember to note the contribution year on your check. 

    As a best practice, we recommend sending your check via certified mail to guarantee tracking and delivery.

  • Form 5498 is a tax document used to report various activities related to retirement accounts. This includes contributions, Required Minimum Distributions (RMDs), Roth IRA conversions, rollovers, and the Fair Market Value (FMV) of IRA accounts. The reason it is delivered in May is because taxpayers are allowed to contribute to their retirement accounts up until the tax filing deadline, necessitating a later issuance to accurately reflect all contributions and activities.

    • For 401(k), 403(b), and most 457 plans, the contribution limit is $23,000 for employee contributions.
    • IRA contributions are capped at $7,000 for individuals under 50 years of age, and $8,000 for those 50 years or older.
    • SIMPLE retirement accounts have a limit of $16,000 for contributions.

Tax laws and regulations are complex and subject to change, which can materially impact investment results. Neither Altruist nor its affiliates provide tax or legal advice or discretionary management of customer accounts. Customers are encouraged to consult their attorney, tax professional and/or investment advisor regarding their individual circumstance.