Two of the four clearing houses generating my 1099s this year seem to have made errors. Always a good idea to check your numbers.
Merrill didn't report my transfer bonus in a taxable account. Bonuses are generally treated as income - okay in IRAs, but should be reported for taxable accounts (as Merrill did for me in 2019).
Typically bonuses show up on 1099-MISC's, line 3 (other income). Though
Schwab says that "the bonus award will be reported on your Form 1099-INT. "
Fidelity somewhat mistakenly charged me margin interest that it then refunded. In theory (my theory, at least) this whole transaction should be a non-event. But the 1099 supplemental info says that I paid margin interest (deductible). So the "refund" should be reported as income. That's the way it shows up on the website but not on the 1099. Something is amiss somewhere. Fidelity is investigating.
Also at Fidelity: it has not yet posted for its funds how much income came from overnment securities (state tax-exempt) on its
retail site.
Thanks to
a post on The Finance Buff for another place to find the numbers:
https://institutional.fidelity.com/app/literature/item/842885.htmlNote that this page (for the "Investment Professional") says that it was updated Dec 31, 2024, so I can't tell whether these are final figures.
