Q - What is a wash sale?
The IRS does not allow you to deduct losses from sales or trades of stock or securities in a wash sale unless the loss was incurred in the ordinary course of your business as a dealer in stock or securities.
A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days before or after the sale you:
- Buy substantially identical stock or securities;
- Acquire substantially identical stock or securities in a fully taxable trade;
- Acquire a contract or option to buy substantially identical stock or securities; or
- Acquire substantially identical stock for your Individual Retirement Account (IRA) or Roth IRA.
For additional information about wash sales, please see IRS Publication 550.
Alpaca does not provide tax advice. This material was prepared for informational purposes only and should not be relied on for tax advice. Customers should consult a tax advisor for any tax related questions.
Q - Where can I find my tax documents?
Your 2019 tax documents are accessible in your Alpaca Dashboard > Login > Live Trading > Account.
NOTE: If you hold more than one account with Alpaca, you will need to log in to each account separately to access the associated tax forms.
Q – Who will receive tax documents?
All accounts with reportable activities within the tax year will receive documents.
NOTE: Tax documents will not be provided if you did not sell any securities during the tax year, or the proceeds from your dividends did not exceed $10.
Q - How can I correct my cost basis that is reported on my 1099:
If the cost basis information that is reported on your Form 1099-B is incorrect, you can report a correction to the IRS using Form 8949.
Q - Can Alpaca provide assistance with my 2019 tax reporting?
No. Alpaca does not provide tax advice of any kind.
If you have specific questions regarding your Form 1099 tax documents or general tax questions, we recommend you speak with a tax professional.
Q - What if I have more questions?
Refer to the lists of helpful links provided below.
TurboTax
- TurboTax - How many stock transactions can TurboTax handle?*
- TurboTax - How do I enter a large number of stock transactions in TurboTax Online?*
- TurboTax - Guide to Schedule D: Capital Gains and Losses*
Internal Revenue Service (IRS)
Questions? Contact support@alpaca.markets.
** This information originates from https://ttlc.intuit.com/community/home/misc/03/en-us and is licensed subject to the terms posted at https://ttlc.intuit.com/community/home/misc/03/en-us. Alpaca and Intuit Inc. are not responsible for this information.*
Alpaca does not provide tax advice. This material was prepared for informational purposes only and should not be relied on for tax advice. Customers should consult a tax advisor for any tax related questions.
TurboTax and TurboTax Online are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Alpaca is not affiliated with TurboTax, Intuit Inc, or its subsidiaries.
# TurboTax® (Apex Accounts Only)
NOTE: This information only applies to accounts held at Apex, our previous clearing firm.
For tax information on your Alpaca ETC account , held at Electronic Transaction Clearing (ETC), refer to: 2019 Tax Information (Alpaca ETC Accounts).
Questions? Contact support@alpaca.markets.
Apex , our previous clearing firm, supports integration with TurboTax.
Here’s a general summary of TurboTax’s capabilities by the amount of trades made during the filing year:
- < 1500 Trades You can import your Consolidated 1099 information directly to TurboTax Online by following the TurboTax Import Instructions below.
- 1500 - 2,000 Trades To import your Consolidated 1099 information, you may need to switch from TurboTax Online to TurboTax CD/Download software. For more information, please refer to the TurboTax article How many stock transactions can TurboTax Online handle?.
- > 2,000 Trades Please refer to the following articles or consult a tax advisor regarding your tax reporting options:
TurboTax Import Instructions
Here is a summary of Inuit’s on-screen instructions for TurboTax, provided by Apex.
- After starting a new return from the File menu, select Import then From Financial Institution
- On the next screen, type “ Apex ” into the field titled ‘ I’m looking for ’ and then select ‘ Apex Clearing Corporation ’ and click Continue
- Next, you will be presented with a login screen:
- In the Apex User ID field, enter your account number. For example, account 3AP-12345 would enter 3AP12345 as their username.
- In the Apex Password field, enter the Tax ID number that is associated with the account. Click Continue.
- Once you select Continue and your login credentials are validated, you will be presented with a screen identifying which forms and information is available for import. You will then follow the on-screen instructions to select the information you wish to include.
** This information originates from https://ttlc.intuit.com/community/home/misc/03/en-us and is licensed subject to the terms posted at https://ttlc.intuit.com/community/home/misc/03/en-us. Alpaca and Intuit Inc. are not responsible for this information.*
Alpaca does not provide tax advice. This material was prepared for informational purposes only and should not be relied on for tax advice. Customers should consult a tax advisor for any tax related questions.
TurboTax and TurboTax Online are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Alpaca is not affiliated with TurboTax, Intuit Inc, or its subsidiaries.
*********** This information is applicable to accounts held with ETC only ************
Q - When will my 2019 tax documents be available?
Tax documents to complete your 2019 taxes are now available!
Q - How can I access my tax documents?
Your 2019 tax documents are accessible in your Alpaca Dashboard > Login > Live Trading > Account.
NOTE: If you hold more than one account with Alpaca, you will need to log in to each account separately to access the associated tax form(s).
Q – Which tax documents are provided?
A 1099-B form is provided for each account with reportable activity. An accompanying .csv file containing the1099-B details is also provided. A 1099-DIV and/or 1099-INT will be provided for applicable accounts.
NOTE: Tax documents will not be provided if you did not sell any securities during the tax year, or the proceeds from your dividends did not exceed $10.
Q - Where can I find more information about 1099 tax forms?
More information is available on the Internal Revenue Service (IRS) website at: https://www.irs.gov/forms-instructions
Questions? Contact support@alpaca.markets
Alpaca does not provide tax advice. This material was prepared for informational purposes only and should not be relied on for tax advice. Customers should consult a tax advisor for any tax related questions.
********** This information is applicable to accounts held with Apex only **********
NOTE: Alpaca is in the process of decommissioning accounts held with Apex.
Q - When will my 2019 tax documents be available?
Tax documents to complete your 2019 taxes are now available!
Q - How can I access my tax documents?
Your 2019 tax documents are accessible in your Alpaca Dashboard > Login > Live Trading > Account.
NOTE: If you hold more than one account with Alpaca, you will need to log in to each account separately to access the associated tax forms.
Q – Which tax documents are provided?
A consolidated 1099 tax form will be created for any individual with reportable activity and contains forms 1099-B, 1099-DIV, 1099-INT and 1099-MISC.
NOTE: Tax documents will not be provided if you did not sell any securities during the tax year, or the proceeds from your dividends did not exceed $10.
Q – Does Apex still support integration with TurboTax?
Yes, Apex supports TurboTax integration for your Legacy Account tax documents.
For more information on the TurboTax integration, import function, transaction limitations, and other general support, visit the TurboTax Support Page*.
Questions? Contact support@alpaca.markets.
** This information originates from https://ttlc.intuit.com/community/home/misc/03/en-us and is licensed subject to the terms posted at https://ttlc.intuit.com/community/home/misc/03/en-us. Alpaca and Intuit Inc. are not responsible for this information.*
Alpaca does not provide tax advice. This material was prepared for informational purposes only and should not be relied on for tax advice. Customers should consult a tax advisor for any tax related questions.
TurboTax and TurboTax Online are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Alpaca is not affiliated with TurboTax, Intuit Inc, or its subsidiaries.