Tax Season FAQs
The 2024 tax season is upon us and our goal at Stonehearth Capital Management is to ensure that our clients are always fully informed.
Below, please find a list of commonly asked tax questions that we typically receive this time of year from our clients.
When can I expect my tax form(s) from Charles Schwab?
*Tax Form Schedule
Since we transitioned from TD Ameritrade to Charles Schwab in September of 2023, you may have received two Form 1099s: (1) from TD Ameritrade - for pre-conversion reportable activity and (1) from Charles Schwab - for post-conversion activity. Please be advised that for 2024, you will only receive Form 1099s from Charles Schwab.
If your 1099 is not yet available to view:
Clients that have enrolled to receive their 1099s online will receive an e-mail notification from Charles Schwab once your 1099 is available for download. For clients receiving paper documents, please allow 5-7 days for mail delivery.
Suggestions from SCM
To receive your tax documents as soon as they are available, we encourage clients to sign up for e-delivery of tax documents by logging into www.advisorclient.com and clicking “Profile” in the top right corner of the webpage and selecting “Paperless” from the dropdown menu.
*Need more assistance creating a login OR logging into Charles Schwab? Check out our blog, Online Access for Charles Schwab for detailed instructions.
Expecting a 1099 Tax Form for a Non-Retirement Account?
Give consideration to filing your tax return closer to the April 15, 2025 deadline.
How do I access my tax documents online?
To view detailed instructions on how to login to Charles Schwab, please check out our blog, Online Access for Charles Schwab.
Once logged into Charles Schwab, select “Statements and Tax Forms” on the navigation bar to obtain your tax documents.
eMoney Advisor Login Instructions
Go to the eMoney Advisor portal
Type in your username and password
If you do not know your password, please select “Forgot Password?” and follow the prompts to reset
If you have never logged in before or are unsure if you have a login, please contact the office at (978) 624-3000
Once logged in, select “Vault” int he navigation bar and then select the “Orion” folder.
Cost Basis FAQs
Where do I find my cost basis information for positions I sold last year and need to report?
This information is listed on the 1099 tax form mailed to you from Charles Schwab. It is located under the section “Proceeds from Broker and Barter Exchange Transactions.”
Why does it say cost basis is unknown?
Either because the position was purchased prior to joining SCM or because there is a potential error.
Please contact us at (978) 624-3000 if you know you purchased this position through our firm or if you are unsure.
Why is the 1099 missing cost basis information for GLD and/or SLV, which SCM purchased on my behalf?
If you see small, monthly sales for either of these positions, then the cost basis needs to be manually calculated. There is an online calculator available here to help with these calculations.
If you or your accountant need help with these calculations, please contact us.