Will I receive tax documents for my account?
You can access your relevant tax documents for your retirement and/or investing account through the Oportun app. Tax forms you receive represent your retirement and/or investing account taxable activity from the previous calendar year.
Any specific questions related to filing your taxes should be directed to a tax professional, like an accountant.
Generally, tax forms are issued to retirement/investing members who during the previous year:
- Made money from selling investments
- Earned more than $10 in dividends and/or interest
- Made a withdrawal from your retirement IRA account
How can I access my form?
If your retirement or investment account is still active:
These forms are generated by DriveWealth, our broker-dealer partner, and will be made available in the Oportun app if you still have your retirement or investment account active.
To access the 1099 in the app:
- Tap into your investment or retirement account
- Tap Settings in the top right corner, and choose Manage account
- Tap Tax Documents
If your retirement or investment account is closed
If you do not have an active retirement or investment account with Oportun, an email will be sent to you with instructions on how to access the form.
Tax form types you may receive
If you meet the criteria for multiple 1099 forms, you will receive a Consolidated 1099 that will consolidate all the 1099 forms into one for your convenience.
This form will summarize the proceeds of all your sale transactions. These values must be reported to the IRS when you file your taxes. If you did not sell any investments by making withdrawals in the previous year, you will not receive a 1099-B.
You will receive this form if your investments paid dividends of $10 or more. If you received dividends under this amount, it is likely you will not receive this form.
You will receive this form if you earned interest of $10 or more that was not previously displayed on the 1099-B. If you received interest under this amount, or if the interest was displayed on the 1099-B, it is likely you will not receive this form.
If you have a retirement account and have taken any distributions (withdrawals), you will likely receive a form 1099-R, the tax form showing all transactions within your retirement account within the previous calendar year. This will include the amount of any distributions that are taxable, the amount withheld, and any distribution code that applies.
If you own a retirement account and have made any contributions, rollovers or transfers into your account in the previous tax year, you generally will receive a tax form.
What if I have questions?
If you’re running into issues with accessing your form, we’d be happy to assist. The best way to reach us is by submitting a help request here. You can also email us at firstname.lastname@example.org.
If you have questions about your specific tax situation, please contact a tax specialist. Oportun does not provide legal or tax advice, all information provided herein is for educational purposes only.