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Tax Season
When will my tax documents be ready?
When will my tax documents be ready?

All of your tax documents of 2020 will be generated and delivered by February 16, 2021. You'll be notified by email once your document is ready.

Please see below scheduled delivery data for tax documents:

For Domestic Individual Accounts & IRAs

FormUsed to Report
Scheduled Delivery Date
Consolidated 1099
1st Run
A consolidated tax document containing forms 1099-B, 1099-DIV, 1099-INT and 1099-MISC
February 4, 2021
Consolidated 1099
2nd Run
A consolidated tax document containing forms 1099-B, 1099-DIV, 1099-INT and 1099-MISC
February 16, 2021

For IRAs

For IRA accounts, if you did not make any distributions (withdrawals) in 2020, you will not receive the Consolidated 1099 form for 2020. For any IRA that only contributed, you will not receive a 1099 form, you will ONLY receive a copy of 5498 form by June 30, 2021. The form 5498 is our broker's responsibility to file IRA contributions with the IRS.

FormUsed to Report
Scheduled Delivery Date
1099-R / 1099-Q
Distributions from qualified retirement plans and educational savings accounts
February 1, 2021
Consolidated 1099
A consolidated tax document containing forms 1099-B, 1099-DIV, 1099-INT and 1099-MISC
- For IRAs which made Distributions (Withdrawals) in 2020
February 16, 2021
5498
Contributions to qualified retirement plans
June 30, 2021

For Foreign Accounts

Form
Used to Report
Scheduled Delivery Date
1042-S
Foreign Person’s U.S. Source Income Subject to Withholding
March 15, 2021

For Crypto Activity

If you sold cryptocurrencies in 2020, you may receive an additional Form 1099 for crypto activity in 2020.

The crypto related tax documents are estimated to be generated and delivered by February 10, 2021. You can view your crypto tax documents on our website only. 


How to Access Your Tax Documents?

You can access your yearly tax form directly from your mobile app:

1. Go to the Help Center.

2. Tap Tax Documents in Quick Access.

You can also access all of your tax documents on the Webull website at https://www.webull.com/edocs.

For Closed Accounts

If you have already deleted your Webull brokerage account but your Webull app account is still active, you can view your tax documents on our website only. You can login to the website portal using your original username and password at https://www.webull.com/edocs.

If you have deleted both your Webull brokerage account and Webull app account, you go to the website portal via identity verification at https://www.webull.com/edocs.


Why didn’t I receive a tax document?

If you did not liquidate any positions and the dividends you received did not exceed $10 last year, then no tax forms will be generated for that year. If you received an email notification stating that your tax document is available, but you cannot see any documents on the Webull app, it may because your tax documents are too large. Please check back in two days and your documents should be available.

If you did liquidate stocks at Webull in 2020 but did not receive any tax document notifications and cannot find your tax documents online (receive a “No Document” status on Webull) at the end of February 2021, this may because your tax documents are extraordinarily large and cannot be delivered electronically. Your tax documents will be delivered on a thumb drive to your mailing address on file.

For IRA accounts, if you did not make any distributions (withdrawals) in 2020, you will not receive the Consolidated 1099 form for 2020. For any IRA that only contributed, you will not receive a 1099 form, you will ONLY receive a copy of 5498 form by June 30, 2021. The form 5498 is our broker's responsibility to file IRA contributions with the IRS.


Important Change

Beginning in February, all email notifications for the 2020 tax documents will have a centralized domain. Please note that each notification will be sent from [email protected].


Please note the following changes to this year’s Consolidated 1099 regarding the display of trade details and short options.

  • Trade details: In previous tax years the supplemental section of the consolidated 1099 tax forms outlined the customer’s trade activity. Starting with the 2020 tax year, those details will no longer be included on the supplemental section as they are for informational purposes only. 
  • Short Options: Starting in the 2020 tax year, the closing of short option positions will be reported on Form 1099-B as a realized gain or lose value in box 1d with zero ($0.00) cost basis in box 1e. The display of this information differs from previous tax years, but is compliant with Treasury regulations, specifically 1.6045-1(m)(4)(ii). This change does not affect the gain (loss) calculation.  Please see the example and regulation details below.

Short Options.jpg

6045-1(m)(4)(ii)

(ii) Cash settlement. For purposes of paragraph (d) of this section, for an option that is settled for cash, a broker must reflect on Form 1099-B all payments made or received on the option. For a purchased option, a broker must report as basis the premium paid plus any costs (for example, commissions) related to the acquisition of the option and must report as proceeds the gross proceeds from settlement minus any costs related to the settlement of the option. For a written option, a broker must report as proceeds the premium received decreased by any amounts paid on the option and report $0 as the basis of the option.

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