Introduction to tax information files

Introduction to tax information files

Advisors can access individual client tax information by master account in PDF and electronic formats. The information can be downloaded and archived for future use.

  • Advisor zip files contain a PDF copy of each tax form produced for every sub-account listed under a master account (FA, SL and BT). These files are created approximately 48 business hours after the tax form has posted to all linked sub-accounts. Zip files are available for the majority of the tax forms produced.
  • 1099 data file from Schwab Data Delivery (SDD) contains information provided in the Form 1099 Composite, 1099-R, and Standalone Form 1099-MISC. Each time Schwab generates a tax form for the sub-accounts, a new data file is created. The 1099 data file is not an official tax document and is provided as a convenience.
  • Access to the Documents tab on Schwab Advisor Center® at the master account level
  • The master account number
  • The name of the tax form you wish to obtain

To access the zip files, follow the steps below.

  1. Access the master account number on Schwab Advisor Center.
  2. Go to the Documents tab.
  3. Scroll down to the Tax Forms for the Last 12 months section located directly below the Statements & Account Documents for the Last 12 months section.
  4. Find the tax document under the File Type column and the production date under the Date column.
  5. Once you identify the tax form(s) to download, click the box(es) in the Select column corresponding to the file(s).
  6. Scroll to the bottom of the page and click Download documents.
  7. A file folder appears in a separate window. To view the individual tax documents in a PDF format, double-click the folder. The first eight numbers in the name of each PDF file correspond to the account number.

An inventory sheet is included in the folder, with the account number, account name, and hyperlink to the PDF file for each account receiving a tax form.

The Schwab Data Delivery® 1099 data file contains both reportable and non-reportable tax-related data at the sub-account level. The file only provides information for certain tax forms (those impacting the majority of Schwab clients). Files are created approximately 48 business hours after the tax form (original or corrected) has posted to all linked sub accounts, and only contains information for the accounts receiving a form.

The files are produced by master account (FA, SL and BT) and are only available for two years at which time the files are purged out of the system.

If you have questions about working with Schwab Data Delivery, call Advisor Platform Support at 800-647-5465.

Reference the report named B/D 1099 Data File with file extension TNN.

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.

How long are the zip files available on Schwab Advisor Center?
Files are purged from the system after 12 months and cannot be retrieved at a master level thereafter. To obtain a tax form more than 12 months after its production date, access the individual client's account and download the form from there.

How will I know if a tax form has been produced for my client(s)?
When a new zip file is available for download, you'll receive an alert with a link to the Documents tab on SAC. The alert type is Report Available and the Subject is Download Tax Reports.

Will the SDD 1099 data file produced for a correction run display all the information reported on the forms, including the information not affected by the correction?
Yes. All the information printed on the tax form is contained in the file for the specific account regardless of whether information was corrected. The lines of corrected data contain a field with a C, which indicates the information was changed.

Why doesn't the 1099 data file contain the breakdown of each amount reported on the 1099-DIV, 1099-INT and 1099-MISC by position?
The information is broken down by each position in the Year-end Summary (YES) report contained in the Form 1099 Composite. The 1099 data file only contains the information printed on the individual tax forms. Therefore, if the name of the position is not reported to the IRS, it is not found in the file.

How to download and upload files using Schwab Data Delivery®
How to install Schwab Data Delivery®
How to set up Schwab Data Delivery® preferences
How to work with alerts
Introduction to alerts
Introduction to Schwab Data Delivery®
Introduction to tax forms production
Introduction to tax forms
Introduction to tax reporting alerts