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Dear Valued Client:
This guide contains illustrated examples and explanations of statements that you may receive depending on the type of reportable income you have in your account(s) held at LPL Financial. This guide is provided for informational purposes only and is compiled from reliable sources, but is not guaranteed. LPL Financial does not provide tax advisory services. It is recommended that you consult with your tax advisor or accountant before using this information for tax reporting purposes. Standard IRS instructions for each form are available on the back of the first page of your statement.
Your Tax Information Statement includes information on those securities held in your LPL Financial account. All taxable dividends, interest and Original Issue Discount (OID) reflected on this form should be reported on your tax return using LPL Financial as the payor rather than the individual companies that paid the dividends or interest.
While using this information to prepare your tax return, keep in mind that the IRS uses a matching system whereby they match the items reported on your Tax Information Statement with the items you report on your tax return. In general, you should report all amounts shown on your Tax Information Statement and then make adjustments, if necessary. Additionally, please check your name and taxpayer identification number as shown on your statement. If either is incorrect, please provide your financial representative with a completed IRS Form W-9 (Request for Taxpayer Identification Number and Certification).
General Information for Preparing Your 2008 Income Tax Return
Important Reporting Dates:
- March 16, 2009 1099-OID for CMO, CDO, REMIC issued.
- March 31, 2009 Form 2439 reflecting any undistributed capital gains issued, if applicable.
- April 15, 2009 Personal income tax returns due, deadline for IRA documents filed to establish an account and make contributions for 2008 tax year.
- June 1, 2009 Form 5498 issued to IRA holders who made a contribution for the 2008 tax year. […]
