A 1099 tax form reports different kinds of income you earned in a year to the IRS, usually for payments that come from other sources than a typical employer. For example, a 1099 form might report earnings for independent contractors, any dividend or interest payments you got, gambling winnings, and more.
There are different kinds of 1099 forms for these different scenarios. You may receive one or more of these 1099 tax forms from us, depending on how you use Acorns.
Why did I receive a 1099-DIV/B?
If you're an Acorns Invest or Early investor any of the following apply to you, you'll receive your 1099-DIV/B form by February 21, 2024:
- You received more than $10 in dividends in the previous year
- You withdrew from your Acorns Invest or Early account or sold some of your investments for more than $20 last year
- There were rebalances in one or more of your Acorns investing accounts
You can learn more about the 1099-DIV/B form here.
Why did I receive a 1099-R?
If you're an Acorns Later investor and you made a withdrawal from your Later account last year, we'll email you a 1099-R form that lists those withdrawals by February 1, 2024.
You can learn more about the 1099-R form here.
Why did I receive a 1099-MISC?
If you earned more than $600 in referral bonuses or through Acorns Earn offers that didn’t require you to buy something, you'll receive a 1099-MISC form by January 31, 2024.
You can learn more about the 1099-MISC form here.
Why did I receive a 1099-INT?
If you earned more than $10 in interest through your Acorns Checking or Emergency Fund accounts, you'll receive your 1099-INT by February 1, 2024.
You can learn more about the 1099-INT form here.
What do I do with the form I received from Acorns?
If you received a form, you may need to let the IRS know about the money you earned the previous year through Acorns when you file your taxes.
Your tax situation is unique, you may want to talk to a tax professional or visit www.irs.gov to figure out what applies to you and what you may need to report.
Acorns doesn't provide tax advice, but if you have any questions or concerns about your account, please contact us.