2011 | Tax Guide

 

This comprehensive and informative guide is a tool to assist you or your tax professional with the preparation of your tax returns. It contains examples, explanations and illustrations from Internal Revenue Service (IRS) schedules to help you understand your Tax Information Statement.

 

 

 

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What's New for 2011 Tax Reporting

New IRS Cost Basis Reporting Rules

The changes to cost basis reporting requirements and tax rules affect your 2011 taxes.
On January 1, 2011, phase one of cost basis reporting requirements mandated by Congress, the Department of Treasury and the IRS took effect. The new tax rules require brokers to report to the IRS adjusted cost basis information when "covered" securities in your taxable account are sold, exchanged or transferred (excluding retirement, education and money market accounts). As a result, you will notice changes to your tax information statement.

Please review the 2011 Tax Guide for further information about this topic.

Electronic Delivery (e-Delivery) of Eligible Tax Forms

Enroll now to receive your tax documents electronically through a secure, password-protected website. When your tax documents are available, you will receive an e-mail directing you to a website where you can log in and view, download or print them. Electronic delivery is available for tax year 2010 and beyond for eligible tax forms, including 1099-B, 1099-DIV, 1099-INT, 1099-MISC, 1099-OID, 1099-R, 1099-Q, 5498 and 5498-ESA. Your tax documents will remain available online for seven years from the date posted. Only the above-mentioned forms are eligible for e-delivery at this time and your election will remain in effect until you change or cancel it. To see a demonstration of how to enroll and access your tax documents, please
click here or on the "Go Paperless" button.


Read Before You File

If you held a mutual fund, real estate investment trust (REIT), widely held fixed investment trust (WHFIT), widely held mortgage trust (WHMT) or UIT in 2011, we may send you a revised Tax Information Statement. Please be aware that some issuers do not make their final distribution information available until after January. See the Dividends and Distributions section of the
2011 Tax Guide.

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Mutual Fund Supplemental Information

Supplemental information regarding the percentages of tax-exempt income on municipal funds by state and the percentage of government agency, direct federal and foreign source for funds is now available. Click here >>

Royalty Trust Tax Information

For your convenience, this section provides links to royalty trust websites. Royalty trusts post tax information booklets to their websites which contain information required by holders to compute and report income, gains, losses, deductions and credits attributable to their units of the trust.

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Note: For tax-related issues, please contact your tax professional. For questions regarding your account, please contact your investment professional.

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Disclaimer: This website is not intended to provide tax advisory services. We suggest that you consult your tax professional to discuss the appropriate federal, foreign, state and local tax treatment of your transactions. Any U.S. tax advice contained in the 2011 Tax Guide, the Resources for Royalty Trust Tax Booklets or the Mutual Fund Supplemental Information was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in the Tax Guide, the Royalty Trust Tax Booklets or the Supplemental Information.