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Why no Annual Account Reports anymore?

wsanderswsanders
in Fund Discussions
This has more to do with brokerages than mtual fund companies, but why do the brokerages no longer send out an annual report that wraps up all 12 monthly statements into one document? I don't get paper reports at all anymore, but I'm about to give up keeping tabs on the monthly brokerage PDFs in favor of just downloading a CSV file of each year's transactions.

I do have spreadsheets that show every investment transaction I have ever made, and they are accurate. And of course I get 1099s evey year and save them. Does the IRS even care about these account statements if you get audited?

Comments

  • yogibearbullyogibearbull
    edited February 26
    Brokerage Consolidated 1099 may include Supplemental Info (not sent to IRS) that has all transactions for the year. Schwab includes it in its paper mailing, but I have to download it at Fido.
  • wsanderswsanders
    edited February 26
    Thanks, Schwab's supplemental info does detail the quantity and date acquired for covered sale transactions, and the total divident payouts broken down by holding, but it doesn't show any purchases or dividend transactions. I suppose that is good enough for the IRS, since the detail for non-covered purchases are from the days when they sent detailed annual reports.
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