The document is a consolidated year‑end tax statement from Betterment Securities for tax year 2019, addressed to Vess Jimenez (account 268011235949983). It provides the official Form 1099‑B (proceeds from broker transactions) and Form 1099‑DIV (dividends and distributions) that Betterment reported to the IRS. The statement includes a checklist, filing tips for TurboTax/H&R Block/TaxACT, and tax‑planning advice (e.g., carry‑over losses, municipal bond tax‑exempt status, beneficiary updates). Detailed tax terminology (gross proceeds, cost basis, wash‑sale, short‑ vs long‑term, foreign tax credit, exempt‑interest dividends, etc.) is explained. The 1099‑B short‑term summary shows $18,313.40 in proceeds, $18,279.82 cost basis, and a $33.58 net gain; long‑term activity is zero. The 1099‑DIV summary reports $220.71 in ordinary dividends, all other dividend boxes are zero. The document also contains exhaustive instructions for the recipient on how to interpret each IRS box on Forms 1099‑B and 1099‑DIV, how to report on Form 8949, Schedule D, and Form 6781, and notes on FATCA, backup withholding, and non‑covered securities. Transaction‑level tables list each short‑term bond ETF sale (symbol NEAR, SHV) with dates, shares, proceeds, basis, and gain. The statement emphasizes that Betterment is not a tax advisor and directs users to their support site for further help.
Topics
Consolidated Tax Statement Overview and Purpose
Introduces the Betterment year‑end tax package, identifies the recipient, account number, and the two primary IRS forms (1099‑B and 1099‑DIV) included, and explains the legal importance of the document.
1099‑B Short‑Term Transaction Summary and Detail
Presents the aggregate short‑term sales figures ($18,313.40 proceeds, $18,279.82 basis, $33.58 gain) and provides a line‑by‑line table of each bond ETF sale, including dates, shares, CUSIP, proceeds, basis, and wash‑sale information.
Tax Terminology Glossary Specific to Betterment Reporting
Defines key concepts such as gross proceeds, cost basis, gain/loss, wash‑sale, short‑ vs long‑term, foreign tax paid, exempt‑interest dividends, and non‑dividend distributions, with emphasis on how Betterment calculates and reports them.
Recipient Reporting Instructions for IRS Boxes and Forms
Explains each box on Forms 1099‑B and 1099‑DIV (e.g., Box 1a‑1g, Box 2, Box 12), how to map them to Form 8949, Schedule D, and Form 6781, and notes special cases like non‑covered securities, FATCA, and backup withholding.
Security and Access Guidance for Tax Data Integration
Informs the user that 2FA requires an app‑specific password for TurboTax integration and points to the Betterment 2FA page for setup.