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Merrill sends consolidated 1099s between late January and the end of February, under an IRS extension it requests so that it can validate the figures first. A Bank of America subsidiary issues the form under its own legal name, so the payer block does not say Merrill Edge.
Merrill sends one consolidated document. Merrill bundles the 1099-DIV, 1099-INT, 1099-B and 1099-OID into it.
Merrill sends retirement account forms separately and earlier. Merrill issues a 1099-R or 1099-Q by January 31, on its own.
The payer is not Merrill Edge. Merrill Edge is a Bank of America brand, so copy the payer block from your own form.
A Bank of America subsidiary issues your Merrill Edge 1099 under its own legal name. Copy the payer name and number from your own form, not from a search result.
Merrill sends consolidated 1099s from late January to the end of February and may amend them through April 15. Wait for yours before you file.
Merrill reports cost basis only on shares you bought after the phase-in dates. On older or transferred-in shares you supply it, and a blank basis taxes the whole sale price.
Merrill Edge is a brand of Merrill, and Merrill is a wholly owned subsidiary of Bank of America. The broker-dealer behind your account files the 1099 under its own legal name, so the payer block carries that name and identification number, not Merrill Edge.
Copy the payer name, address and identification number from your own form. Merrill filed those exact details with the IRS. A number you copy from a search result can be right for one year and wrong for the next. A wrong payer number is a mismatch on a return you otherwise got right.
The brand on your account is not the payer
Three brokerages, three different names on the form.
Part of the Bank of America group
Now part of Morgan Stanley
Accounts moved to Charles Schwab
Merrill produces consolidated 1099s over a window, from January 26 to February 28 for 2025 forms. Merrill requests an extension from the IRS so that it can validate the figures before it sends yours, and the regulatory deadline under that extension is March 19.
Merrill sends a 1099-R or 1099-Q by January 31.
Merrill sends the consolidated 1099 between late January and the end of February, later where a fund you hold has not settled its figures.
If you hold a widely held fixed investment trust or a real estate mortgage investment conduit, Merrill sends a supplemental statement in March, after the consolidated one.
Merrill mails these between the end of February and April 15.
Merrill reissues when a fund you hold reclassifies a distribution after year end, moving what it paid as an ordinary dividend into qualified dividends or return of capital. Merrill mails amended forms between the end of February and April 15, so Merrill may send a correction as late as the filing deadline.
Merrill does not have to send you a correction for a change of 100 dollars or less on any figure, under an IRS safe harbor for small errors. You can opt out and ask for a corrected form, and Merrill then has to send it.
Wait. Filing twice costs you twice.
Send us both versions and we tell you whether the change justifies an amended return.
Merrill reports cost basis to the IRS only for covered shares, meaning shares you acquired after the date Congress phased your security type into the rules:
On your noncovered shares, which you bought before those dates or transferred in from another firm, Merrill leaves the basis blank or marks it as not reported. Merrill declines to report a number it cannot stand behind, so you supply the basis yourself from your own purchase records.
Merrill tracks wash sales inside your Merrill accounts. Merrill cannot track the ones you create somewhere else.
You create a wash sale when you sell a security at a loss and buy the same or a substantially identical security within 30 days before or after that sale. Merrill reports the disallowed amount on your 1099-B for the accounts it holds. The IRS applies the rule across every account you control:
You sell at a loss at Merrill and buy back at another broker.
You sell at a loss and your spouse buys the same security.
Your dividend reinvestment plan buys shares back for you inside the 30 day window.
You sell at a loss in a taxable account and buy back inside an IRA.
When you buy the replacement shares in a taxable account, you defer the loss. You add it to the basis of those shares and you recover it when you sell them. When you buy the replacement inside an IRA, you do not get it back.
If you transferred shares in from another firm, send us the 1099-B and whatever old statements you still hold before you file.
We prepare the forms Merrill issues you and every schedule they feed.
We do not manage your investments and we do not pick your holdings.
For what you owe on investment income, see individual tax preparation. For gains on a sale, see capital gains taxation.
We put a CPA or an Enrolled Agent on every return. We do not use seasonal staff.
We quote you a fixed fee before we start work. We do not run an hourly meter.
We answer your email within 24 hours, in filing season and outside it.
Send us the consolidated 1099, plus any corrected version Merrill has sent you since.
We read the four sections separately, because we apply a different set of rules to your dividends, your interest, your sales and your accrued discount.
We verify the cost basis on every sale, starting with the shares you transferred in.
We reconcile all of your accounts for wash sales, including accounts you hold at other brokers.
We check the form against your own records before we put anything on a schedule.
We file, and we tell you whether to expect a correction before you commit to a date.
Pricing runs per return, not per form. These are the factors that set a quote, and you get the fixed number before the work starts.
“We’re going to as tax professionals be too busy in February or March, we’re going to be filing people’s taxes. So if you want to start planning you want to meet your adviser far ahead of time, especially if you know something big is happening that year.”
“This is our second time getting into Dimov tax, and the team is exceptional. When we have questions about the tax form, they provide quick explanations that help us understand the complex numbers.”
Our team includes CPAs and Enrolled Agents who work on individual returns, business taxes and tax planning. Tell us what you need help with when you get in touch.
You can file from the original consolidated form. If Merrill then corrects your dividend figures or your cost basis, you pay for an amended return on top of the original one.
We explain general rules and we are not advising you on your own situation. Your answer depends on facts we cannot see until we look at your records, so speak to a CPA before you file.
