2020 Consolidated 1099 Tax Statement Mailing Dates

A 2020 Consolidated 1099 Tax Statement will be issued if you received dividends or interest totaling at least $10 in aggregate, or if you received any gross proceeds.¹ Baird will distribute 2020 Consolidated 1099 Tax Statements² in three waves.

The date you receive your Tax Statement depends on the holdings in your account. Deadlines have been extended into 2021 for a number of investment products providing post year-end tax adjustments to Baird. This may include debt instruments, exchange-traded funds, mutual funds and unit investment trusts. 

We anticipate the majority of Tax Statements will be mailed on or before February 16 (referred to as Wave I). Certain Tax Statements will not be mailed in Wave I if Baird has not received year-end tax information adjustments prior to the processing deadline.

Tax Statements not mailed in Wave I will be mailed in Wave II if year-end tax information adjustments have been received and processed prior to the Wave II mailing deadline of March 1.

All remaining Tax Statements will be mailed in Wave III by March 15. Generally, accounts holding Real Estate Mortgage Investment Conduits (REMICs), Widely Held Fixed Investment Trusts (WHFITs) and/or securities that have late reporting adjustments (e.g., unit investment trusts) will receive a Tax Statement mailed in Wave III.

Tax Statement Message

As applicable, the Consolidated 1099 Tax Statement mailed on or before February 16 will contain an important message indicating that an account(s) in your household will be mailed a Consolidated 1099 Tax Statement in a future Wave. Please wait until you receive all 2020 Tax Statements to file your income tax return(s).

Tax Document Delivery Requirements

During the 2020 tax season, Baird will issue various tax documents, including the Consolidated 1099 Tax Statement, to clients based on the type of account. A hard copy of the applicable tax forms will be mailed via the United States Postal Service (USPS) to each client by the extended IRS due date. The mailing deadlines for each tax form are shown in the table below. As always, Baird will mail tax forms as soon as year-end tax information adjustments have been processed.

Please contact your Baird Financial Advisor with any questions about your year-end  tax forms.

Convenient Access to Your Tax Documents

Baird offers several options to access your tax documents (in addition to copies received in the mail).

• Baird Online – A PDF copy of each of your tax documents will be available on Baird Online before your copies are received in the mail. A Baird Online user ID and password is required to access your tax forms. Click here to register for Baird Online.

• TurboTax^® – You can download the Consolidated 1099 Tax Statement and/or Form 1099-R directly into TurboTax^®. Click here for information about the TurboTax^® download.

• CSV File – You or your tax preparer can download the Consolidated 1099 Tax Statement into a CSV (comma-separated value) file. The CSV file can then be electronically transferred into most professional tax accounting software. Click here for Instructions to download the Baird Tax Statement into a CSV file.

Cost Basis Legislation – What You Should Know

Cost Basis Legislation that began in 2011 requires Baird to report adjusted cost basis to the IRS on Form 1099-B (Gross Proceeds) when Covered securities are sold, redeemed or exchanged in taxable (i.e., reportable) accounts.¹ Cost basis and the applicable adjustments are an important part of accurately reporting capital gains and losses when filing income tax returns because they directly impact your taxable income. Your income tax return(s) must reflect the amounts Baird reports on your tax statements since the IRS will compare your income tax return to what is reported by Baird. If adjustments to the amounts reported by Baird are necessary, refer to IRS Instructions for Form 8949. You should also reconcile any differences and maintain supporting documentation accordingly.⁴ Please refer to  "Cost Basis Legislation – What You Should Know" for additional information.

¹A 2020 Tax Statement will be issued if your taxable account meets or exceeds any of the IRS minimum thresholds as follows: (a) $10 or more of dividends, capital gain distributions, nondividend distributions, corporate interest, treasury interest, tax-exempt interest/dividends, original issue discount, treasury original issue discount, market discount or substitute payments, (b) $600 or more of any cash liquidation distributions, royalty distributions or other income distributions, (c) at least one gross proceeds transaction, (d) any federal backup withholding, (e) any state withholding, or (f) any foreign tax paid.

²Taxable (i.e., reportable) accounts will receive applicable IRS Forms 1099-DIV, 1099-INT, 1099-OID, 1099-B, and 1099-MISC in one consolidated Tax Statement.

³The March 1 and March 15, 2021, mailing dates are based on a 30-day extension from February 15 granted by the IRS and are intended to reduce the number of corrected Tax Statements you may receive. 

⁴There may be instances when the information you report to the IRS differs from the information reported by Baird. You must be familiar with tax return reporting rules and be able to verify the differences. Wash sales are an example of a transaction that may cause differences between information reported to the IRS by Baird. You are not allowed to claim losses when reporting wash sales, though the disallowed amount must be reported to the IRS. Baird will identify wash sales within a given account, but it is your responsibility to identify wash sales that are a result of trades across different accounts at Baird or other financial institutions where you hold accounts. All gains from wash sales are also reported to the IRS.