Introduction to the Account Summary Report and Year-end Gain/Loss Report 

Introduction to the Account Summary Report and Year-end Gain/Loss Report 

The Account Summary Report (ASR) and Year-end Gain/Loss Report (YEGLR) are non-regulatory reports. The ASR is created once per year to assist the client with tax reporting. The YEGLR is retired for tax year 2023 and after.

The ASR provides the following information in a non-taxable (but subject to tax reporting) account:

  • Dividend income
  • Interest income
  • Buy transactions
  • Sell transactions

The YEGLR provided a snapshot of the realized gain/loss transactions in retirement or non-taxable (but subject to tax reporting) accounts for a calendar year.

The YEGLR is retired for tax year 2023 and after. The report will no longer be offered for non-taxable accounts. 

Information provided in the report can be exported from the Realized Gain/(Loss) tab on Schwab Advisor Center. For steps on how to create this report, refer to the FAQs below.

The ASR provides informational reporting on dividend and interest income received including buy and sell transactions. The report closely resembles the Form 1099 Composite in content but is not provided to the IRS.


The report will be generated automatically if the account meets all of the following eligibility requirements:

  • Non-taxable (but subject to tax reporting) account or S Corporation
  • One or more tax reportable transactions during the calendar year
  • Linked to an advisor as of December 31
  • Open as of December 31
  • Enrolled to receive the report by January 31 of the following year

Account types not eligible to receive the report include taxable and retirement accounts.
 

Features







 
  • Dividends and Distribution Information–Reports the qualified and nonqualified dividend income, capital gains distributions, nontaxable distributions, liquidation distributions, and partnership distributions received during the tax year. It also includes foreign tax paid and taxes withheld.
  • Interest Information–Reports all interest earned from interest-bearing securities, including accrued interest from the sales or exchange of securities, accrued interest paid, principal payments received, margin interest charges, and taxes withheld.
  • Investment activity–Reports all prior-year purchases, sales, option trades, dividend reinvestments, principal payments, and reorganization activity by asset category Tooltip .

One of the dividends received was reclassified after the ASR was produced. Can a corrected report be generated?
No, the ASR is produced once and cannot be regenerated.

How can my client access the ASR if one was created for them?
If an ASR was created, it will be available to the client on Schwab Alliance. If they don't already have Schwab Alliance access, see How to invite your clients to Schwab Alliance.

How can my client access YEGLRs produced for prior tax years?
YEGLRs produced in prior years are available on Schwab Alliance. If they don't already have Schwab Alliance access, see How to invite your clients to Schwab Alliance.

What can I provide to my client that is comparable to the YEGLR?
Information provided in the report can be exported from the Realized Gain/(Loss) tab on Schwab Advisor Center.

To create a PDF report or export the realized gain/(loss) transactions for a specific time period, follow the steps below.

  1. Access the desired account and proceed to the Cost Basis tab on Schwab Advisor Center.
  2. Click Realized Gain/(Loss).
  3. Select the time frame under filter options.
  4. If the filter option was adjusted, click Apply filter.
  5. Click Print to produce a report in a pdf format or click on Export to export the information into a Microsoft® Excel spreadsheet. Both will give you the option to display the information as is or by lot level Tooltip .

How to update and research missing cost basis
How to invite your clients to Schwab Alliance

Resource: Sample Schwab Advisor Center Realized Gain/(Loss) Report
Resource: Sample Account Summary Report

If you have questions about cost basis reporting, statement preferences, and tax reporting, contact your service team or call  Advisor Services Cost Basis Service Tooltip at 877-762-6446.