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
Looking for your tax forms? You can find them under Documents in your Altruist Client Portal.
1099-Consolidated tax forms (which include 1099-DIV, 1099-B, 1099-INT, 1099-OID, and 1099-MISC) will be produced in three separate groups, depending on the complexity of your financial portfolio. The first wave will begin at the end of January and the final wave will end on March 15.
Scheduled correction runs are set to begin on March 15, occurring bi-weekly as needed. This could affect your tax filing and deadline.
Please note: Altruist transitioned from an introducing broker/dealer into a self-clearing custodian in April of 2023, so it’s possible you will receive two separate 1099 tax documents for the tax year: One from Apex Clearing Corporation (for reportable events occurring from January - April) and one from Altruist Financial LLC (for reportable events occurring between April - December).
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, Form 5498, and/or Schedule K-1. If you have taxable accounts, you can expect a Consolidated Form 1099 and/or Form 2439, Schedule K-1, 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 either AltruistFinancialLLC@investordocuments.com or email@example.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 firstname.lastname@example.org. Regardless of chosen delivery method, all of 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:
Login 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 email@example.com.
There are a few reasons why you might not have received a tax document:
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 1099 Consolidated forms into TurboTax using their provided document IDs. However, please be aware that for distributions from retirement accounts after April 19th, 2023 Form 1099-Rs will not be compatible with TurboTax for this year. You will need to enter these manually.
Additionally, it's important to note that any reportable activity after April 19th, 2023 will be documented on a separate Form 1099, distinct from the activity on or before that date.
You have until April 15, 2024, to contribute to your traditional or Roth IRA and have it count as a 2023 contribution. If you prefer to mail a check for your IRA contribution, it must be postmarked by April 15, 2024, and designated as a 2023 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
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.