Will I be receiving tax documents?
You’ll receive the tax documents you need to file your taxes, depending on your account activity for the year. (If you do not receive any forms, that means you do not need them.)
If you took a distribution (withdrawal) from your IRA, you’ll receive a 1099-R by January 31, 2024.
If you sold securities or earned dividends or interest of more than $10 in your taxable account, you’ll receive a 1099 form. You’ll also receive an 8949 form if there were any securities sold in your taxable account — the 8949 form lets you list capital gains and / or losses. Note that these forms will be made available by February 28, 2024.
Your Ellevest tax forms will only be the ones you’ll need to tell the IRS about your Ellevest investment account(s) when you file your taxes. Please note that even if you don’t need any tax forms from Ellevest, you’re still required to file a tax return if you earned income elsewhere.
Please note Ellevest is not able to provide tax advice. We recommend consulting with a tax professional for advice.
When will my tax documents be available?
Every year, Ellevest and Goldman Sachs Custody Solutions (where investment assets for Ellevest digital clients are held) provides you with the tax documents you need to tell the IRS about your investment account(s) when you file your taxes.
When possible, Goldman Sachs Custody Solutions aims to send out tax forms as soon as they can, even if that’s before the February 28 deadline for sending 1099 forms.
However, Goldman Sachs Custody Solutions has to wait for information from the companies that run the individual funds in your account, so unfortunately, they can’t expedite the process or guarantee an earlier date. The timeline for Goldman Sachs Custody Solutions to prepare tax documents is standard for most investment accounts across the industry.
We’ll send you an email every time a new tax document becomes available in your account. After you receive the email, you'll be able to find the document by logging in to your account on desktop, clicking on “Hi, [your name]” in the top right-hand corner of your dashboard, and selecting “Documents” from the dropdown menu.
Here’s when you can expect each document:
Here’s when you can expect each document, but please note that depending on your account, you may not need all of these. We’ll only send you the ones you need.
January 31: Form 1099-R will be available.
This form lets you list any distributions (aka withdrawals) you took from your IRAs in 2023.
February 28: First day most Ellevest clients can file taxes.
You’ll receive a 1099 form if you sold securities, or if your dividends or interest were greater than $10. You’ll receive an 8949 form if there were any securities sold in your taxable account — this form lets you list capital gains and / or losses.
April 9: Ellevest’s IRA contribution deadline.
To make a 2023 contribution to an Ellevest IRA, you’ll need to have an active bank link, no restrictions on your account, and a deposit scheduled on or before this day. You're able to max out your contributions as early as January 1, 2024. Our deadline is a few days earlier than the IRS deadline, but the buffer allows us to make sure your deposit processes in time.
April 15: IRS tax filing deadline for 2023.
May 31: Form 5498 will be available.
This form lets you list your total contributions to your IRA in a given tax year. It’s just for your records and not required for tax reporting.