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In addition to your year-end statement, FAM Funds will provide you with a tax statement of your dividend and capital gains distributions on Form 1099 DIV for taxable accounts. Proceeds from a sale on a non-retirement or taxable account are reported on Form 1099-B. Proceeds from a sale on a retirement account are reported on Form 1099-R. You must report these proceeds on your taxes. We’re also required to provide copies of these forms to the IRS.
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Overview of Common Tax Forms
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Mailed By
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Form 1099-B
Reports proceeds from the sale or exchange of non-retirement Fund shares received during the year (if you sold or exchanged shares).
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January 22, 2010
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Average Cost Accounting Statement
Report that details your sale of Fund shares during the year, and the capital gain or loss calculated using the Average Cost method for each sale. Included with Form 1099-B.
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January 22, 2010
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Form 1099-R
Reports distributions from retirement accounts, such as Traditional and Roth IRAs, and any Federal Income Tax withheld.
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January 22, 2010
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Form 1099-Q
Reports distributions made from a Coverdell Education Savings Account.
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January 22, 2010
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Form 1099-DIV
Reports ordinary dividends and capital gain distributions received in your taxable Fund account(s). IRS Rules do not require that a 1099-DIV be sent to a shareholder for amounts less than $10.
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February 1, 2010
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Form 5498-ESA
Reports contributions to a Coverdell Education Savings Account.
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April 30, 2010
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Form 5498
Reports Traditional and Roth IRA contributions (includes rollover contributions), and fair market values.
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May 7, 2010
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