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How do I read my 1099?

This is provided for informational purposes only. Acorns does not provide tax or legal advice. You should consult with a tax or legal professional to address your particular situation.

Note: This information applies to Acorns Invest accounts.

Your 1099 notes any sort of income you may have made from having an Acorns account in the past year. Depending on what you did last year, that might include bonuses you got for referring friends, gains in your Invest investment account if you withdrew money, and dividends you may have received.

Your 1099 notes this in three sections—the 1099-B, the 1099-DIV and the 1099-MISC—which we break down briefly below.

Note: You can access your 1099 using our web app or mobile browser, even if you’ve closed your Acorns account. Please log in here and select “Tax Reports” from the “Statements” dropdown menu. Unfortunately, you are currently unable to access your 1099 through the mobile app.

Summary Information

Your 1099 opens with an overview of the three types of 1099s you may be eligible for as an Acorns investor. You will see spaces for all three types of 1099s, even if you did not earn enough to meet minimum reporting requirements for a category. This at-a-glance information may help you or your tax professional in preparing your tax return.

1099-B

Your 1099-B lists any gains you made through your investment account, which occur when you withdraw or sell holdings in your account for more value than you put into it. If you have made a withdrawal from your account in the previous year, check the “Summary of Proceeds, Gains & Losses, Adjustments and Withholding” section and the supplemental 1099-B pages for details you may need to include when filing your taxes. (Note that you may not receive a 1099-B for gains of under $20.)

1099-DIV

Your 1099-DIV lists any dividends you received exceeding $10 in the previous year. Dividends are companies’ ways of thanking you for investing with them. You get them simply for holding a stock or fund on a certain date.

You can check to see what dividends you received by visiting the "Past" screen.

1099-MISC

Your 1099-MISC lists any referral bonuses or Found Money you earned that didn’t require you purchase something, if they exceed $600. (Found Money you earn as a result of purchasing a good or service may be considered a rebate for tax purposes, meaning you may not receive a 1099 for that money from Acorns and do not owe taxes on it.)

Supplemental Detail Pages

Depending on whether you made a withdrawal from your account or sold your investments, earned dividends or got a referral bonus, your 1099 may also include supplemental pages that provide further detail.

Be sure to talk to your CPA or tax professional or visit the IRS website to help determine how you should report this information to the IRS.

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