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Tax Season Dates You Need to Know

  • There are nine important tax dates you should know for taxes this year.
  • Tax Day is April 15, 2024.
  • You can make 2023 IRA contributions until April 18, 2024, at 3 p.m. ET.

Tax season is just around the corner. To help you get organized, here’s a breakdown of the important tax dates you need to know for the 2023 tax season..

For more information about the specific dates and when your forms will be available, please go to the Internal Revenue Service (IRS) website. The IRS is the official source of deadlines, rules, and regulations for your taxes. We also recommend consulting a tax professional if you have specific questions.

On or before January 31: 1099-R forms available

 You will only receive a 1099-R if you have taken a distribution (withdrawal) from your Stash Retire account that was $10 or more. 
On or before February 15: Forms available Consolidated Form 1099: If you meet the criteria for multiple 1099s, we will issue you what’s called a Consolidated 1099 that will combine all relevant forms into one convenient document. Many Stash investors will have Consolidated 1099s. A Consolidated 1099 may include:

– Form 1099-B: This form is issued by Stash to represent realized gains or losses in any investment in your Stash Invest account in 2023. You may receive this form if: The information you have on file with the IRS does not match the information you have on file with Stash (for instance, the IRS has your social security number on file as 123-45-6789 but your SSN was reported to Stash as 124-35-6789).And:The information is not corrected within an allotted time frame and you have activity in your account during this time.
– Form 1099-DIV: This form is sent by Stash if you received dividends in 2023.
– Form 1099-INT: This form is sent by Stash if you received more than $10 in interest in 2023.
February 28: Customers in Puerto Rico receive forms

 Form PR 480.6: This form is sent by Stash if you need to report certain income received by Puerto Rico taxpayers and Puerto Rico tax withholding.
On or around March 15, 2023: Corrected Consolidated Form 1099  This form consolidates all of the relevant 1099s related to your account and includes pertinent, updated information particular to your investments, as well as any updates related to other ETFs and stocks in your portfolio. Your Corrected Consolidated 1099 will be available on or around March 15.

IMPORTANT: The Corrected Consolidated 1099 replaces the form you receive in February. It’s really important that you wait until you’ve received the Corrected Consolidated 1099 in March to accurately file your tax return. If you prefer filing your taxes early, it may be best to wait until you receive this form or consult a tax professional, since the IRS can fine you for filing your taxes twice. Consult a tax professional if you have any questions.  
On or before April 15 @ 3 p.m. ET: Stash Retire customers IRA contribution deadline

 This is the final deadline to make a contribution toward your 2023 IRA. Any contributions made after 3:00 p.m. EST on April 14, 2023 will go toward your 2023 contribution limit.  
April 15: Tax Day This is your deadline to file your taxes this year. Certain states have specific deadlines, so be sure to check your state’s website for the most accurate deadline information.  
On or around May 31: Form 5498 Available This form is only applicable for Stash customers with a Stash Retire IRA. The form will showcase all activity, such as contributions, rollovers, etc., that took place within your Stash Retire IRA during the 2023 tax year. This form is mostly for your records. It is sent to you and to the IRS, and it is not necessary in order for you to file your taxes. 
October 15: Tax Extention Deadline This is the last day to file your taxes if you’ve previously filed for an extension.  
December 31 Take the required minimum distribution (RMD): If you’re 72 or older, you must take a required minimum distribution from your IRA every year, also known as an RMD. (That’s 70 ½ if you reach 70 ½ before January 1, 2023.) If you have an IRA and you meet these criteria,  remember to take your RMD by the end of 2023, as you are required to take your RMD by December 31 of each year. You can figure out how much you need to withdraw from your account by using the worksheets found here.

Last day to buy or sell stocks in order to claim gains and lossesWhen you file your taxes, you have to claim your capital gains and losses, or how much you earned or lost by buying and selling investments this year. One strategy you might use is to sell investments that have lost value to offset the taxes you’ll have to pay on gains, which is called tax-loss harvesting. In order to employ this strategy, you’ll have to make any sales or purchases by the end of the 2023 year. 

DISCLOSURES

This information is subject to change and should not be considered legal or tax advice. Stash does not provide legal or tax advice. If you have questions regarding your personal circumstances, you should consult a tax or legal professional.

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