If you’ve traded stocks, options, or other securities on Webull, you’ll need a 1099 form for tax reporting. The 1099 tax document details your gains, losses, dividends, and interest earned throughout the year. This guide explains how to access your Webull 1099, what it includes, and how to use it for tax filing.
What Is a Webull 1099?
A 1099 form is an IRS document used to report various types of income. Webull issues a 1099 composite form, which can include:
- 1099-B: Reports capital gains and losses from stock and option trades.
- 1099-DIV: Reports dividends and capital gain distributions.
- 1099-INT: Reports interest income from cash balances or bond holdings.
- 1099-MISC: Reports other miscellaneous income, such as bonuses or promotions.
If your trading activity meets IRS thresholds, Webull will provide this document to you and the IRS.
How to Access Your Webull 1099
Webull typically issues 1099 forms by mid-February. Here’s how to retrieve it:
- Log into Your Webull Account
- Open the Webull app or visit www.webull.com and sign in.
- Navigate to the Tax Center
- Click on “Documents” or “Tax Documents” in the menu.
- Locate the 1099 Composite form.
- Download Your 1099 Form
- Select the document for the relevant tax year.
- Click “Download” to save a PDF copy for your records.
Webull may send an email notification when your tax forms are available.
Understanding Your Webull 1099
Your 1099 form provides critical tax-related information. Key sections include:
- Proceeds from Sales (1099-B): Lists stock, ETF, and options sales. Match these figures with your records.
- Cost Basis Information: Helps calculate capital gains/losses. Ensure accuracy to avoid tax discrepancies.
- Dividends & Interest (1099-DIV & 1099-INT): Report this income on your tax return, even if reinvested.
- Wash Sales & Adjustments: Certain trades may be subject to wash sale rules, impacting how losses are reported.
Using Your 1099 for Tax Filing
Once you have your 1099, you can:
- Enter the data into tax software like TurboTax, H&R Block, or TaxAct.
- Provide it to your accountant for professional tax preparation.
- Compare it with your own records to ensure accuracy before filing.
Final Tips
- Verify accuracy: Check for missing or incorrect data and contact Webull if discrepancies arise.
- Watch for corrections: Webull may issue a corrected 1099, so review your form before filing early.
- Report everything: The IRS receives a copy, so ensure your return matches the reported information.