What type of tax forms will I get? Can I connect my turbotax account?

If your account has had a taxable event, you will  receive a consolidated 1099 tax form that would include one or more of the following sections:

1099-B 

All sales of full shares regardless of amount will be reported on a Form 1099-B. Fractional shares may be subject to a de minimis reporting if under $20.00.

1099-DIV

• Distributions such as dividends, capital gain distributions, or nontaxable distributions that were paid on stock and liquidation distributions.
• Only amounts of $10.00 or more for distributions paid on stock, or $600 or more for liquidations are required to be reported on the form.

1099-INT

•  All interest income that is not already reported on other forms will be reported here.
•  Amounts $10.00 or more are reported in boxes 1, 3 and 8.

1099-MISC

At least $10.00 in royalty payments, broker payments, in lieu of dividends or at least $600.00 in miscellaneous income.

When can you expect to receive your tax forms

Tax forms are made available by February 15th the year following the tax reporting year (if the date falls on a non business day, the forms will be available the next business day). 

You will receive an email notification from taxnotification@apexfintechdocuments.com when your tax forms are ready to be accessed. You will be able to download  them from within your Frec account settings. 

Uploading your 1099 to TurboTax Frec Securities 1099

1. In TurboTax, go to the Wages & Income screen, then select Stocks, Mutual Funds, Bonds, Other
2.  When asked “Did you sell stocks, mutual funds, bonds, cryptocurrency or other investments in 202X?” click Yes
3. Type “Apex” in the search bar when asked to enter your bank name, then choose Apex Clearing Corp.
4. Enter your login credentials:
   1. User ID: Use your Frec account number, the format should be similar to example: 3FR12345 
   2. Password: Use your social security number
5. Now you can go ahead and import your 1099-B

This import is limited to 10,000 transactions.