2023 TAX PREPARATION
Tax Facts and Information for Cassaday & Company, Inc. Clients

Osaic Wealth (formerly Royal Alliance) is currently in the process of preparing 1099 forms (1099-D, Dividends and Distributions; 1099-B, Proceeds from Broker and Barter Exchange Transactions) for 2023. You may have received a notification from Osaic titled “IMPORTANT TAX DOCUMENTS AVAILABLE”. 

The Year-End 1099s for 2023 will be distributed in multiple phases based on what is held in your taxable accounts:

Phase 1 - January 31st
Generally, only 1099s for accounts holding fixed income or equity-only investments are sent on this date.

Phase 2 - February 15th
Osaic will begin to release Year-End 1099s for taxable accounts. Typically, smaller accounts will not have revisions to their 1099s.

Phase 3 - March 1st
The first round of REVISED 1099s for taxable accounts will be released.

Final Phase - March 15th
All remaining 1099s with revisions will be released.

It's important to note that due to revisions released by fund companies, finalized year-end 1099 statements have been distributed as late as mid-March in the past. We strongly recommend waiting until after March 15th to file your taxes to avoid needing to amend your returns.

We apologize for delays in this process that are beyond our control. We hope that all of the information provided here presents a clear timeline of what to expect and when to expect it so that your tax preparation and filing can go as smoothly as possible. We would sincerely like to avoid clients needing to file an amendment due to a lack of clarity or information.

You can access your tax statements, including 1099s, through the Cassaday Tamarac Client Portal.

If you work with a Certified Public Accountant (CPA), we can grant them complimentary access to your tax documents within the portal. This allows your CPA to securely access real-time tax information on your accounts, eliminating the need to fax, mail, or email your statements to them. Your CPA can also contact Cassaday & Company, Inc., directly regarding any questions about statements or information in the portal. Connecting your CPA to your Client Portal does NOT permit them access to personal documents and information you may wish to keep private.  

Currently, we have over 200 CPAs who are able to access client tax documents via the portal. If you are interested in having your tax professional use our safe and secure service or need assistance accessing your Client Portal, please contact our Technology Department. 

If you use TurboTax or Quicken for your tax preparation, you can import your 1099 statements into the software. Step-by-step instructions can be found below. Please note that this process requires access to Osaic’s NetXInvestor/eQuipt system. If you need assistance accessing NetXInvestor/eQuipt, please reach out to your Client Services Representative or our Technology Department. 

Please note: If you have specific issues related to TurboTax, it is best to call TurboTax support directly. Our tech team can assist with the initial import of information into TurboTax, but after the initial import, TurboTax support is the best resource for diagnosing issues. 

TurboTax Import Instructions

1. When you get to the screen to import your 1099 information, choose the option to ‘Import interest/dividend information from my financial institution or software’.

2. Under ‘Find Your Bank or Brokerage’ field, depending on how you access your Osaic (formerly Royal Alliance) online systems, enter NetXInvestor OR Osaic eQuipt

3. Enter ’Financial Organization Number’ (if prompted) as 028

4. Enter your login information (your user ID and password) for NetXInvestor or eQuipt. Your login user ID was provided to you when you signed on as a client of Cassaday & Company.

Note: To test your login information:

• For NetXInvestor, go to https://osaic.netxinvestor.com/nxi/login
• For Osaic eQuipt, go to: https://app.osaic.com/equipt/login

If you are having difficulty with your credentials, please email TECH@Cassaday.com for assistance.

We recommend registering for an eQuipt account (if you have not already) here: eQuipt Login (osaic.com). eQuipt is integrated with TurboTax, Quicken, and H&R Block. This integration will allow clients’ eQuipt log-in credentials to be utilized when preparing 2023 taxes using these popular software programs. This replaces the need to pull account details from NetXInvestor. Tax information will be uploaded by Pershing by January 31, 2024. 

Clients registered with eQuipt can quickly find their brokerage/advisory accounts in these tax software tools by searching for “eQuipt” and selecting the appropriate firm-specific eQuipt instance. Cassaday & Company, Inc. clients will select Osaic eQuipt (Osaic – Persh. Accounts).

As we receive information on when to expect your 1099s, we will update the information here. 

Federal & State Filing Deadlines

Federal - April 15, 2024
If needed, an extension until October 15th, 2024, is possible.* Taxes due will still need to be paid by April 15th.  

Virginia - May 1, 2024
If needed, an extension until November 1st, 2024, is possible.* Taxes due will still need to be paid by May 1st.  

DC - April 15, 2024
If needed, an extension until October 15th, 2024, is possible.* Taxes due will still need to be paid by April 15th. 

Maryland - April 15, 2024
If needed, an extension until October 15th, 2024, is possible.* Taxes due will still need to be paid by April 15th.  

*We recommend speaking to your CPA for any questions regarding extensions. 

Important Dates & Deadlines

January 31, 2024 - 1099-Rs Released
1099-Rs for retirement accounts will be finalized by January 31st, 2024. We will post these documents to your Tamarac Client Portal for easy electronic access.

Osaic will distribute Year-End 1099s for 2023 in multiple phases based on what is held in your taxable accounts:

January 31, 2024 – Phase 1 
Generally, only 1099s for accounts holding fixed income or equity-only investments are sent on this date.

February 15, 2024 – Phase 2 – Taxable Account 1099s Released
You will receive communication from Osaic when your 1099s for taxable accounts have been posted. Some of these notifications may be for “Pending” 1099s, which contain incomplete tax information. This is because Osaic is still waiting for year-end tax information to be reported from some of your investment holdings. To avoid confusion, we will not post pending 1099s to your Tamarac Client Portal. Finalized 1099s will be released in February or March, depending on when information is available. Typically, smaller accounts will not have revisions to their 1099s.

March 1, 2024 – Phase 3
The first round of REVISED 1099s for taxable accounts will be released.

March 15, 2024 – Final Phase
All remaining 1099s with revisions will be released.

It's important to note that due to revisions released by fund companies, finalized year-end 1099 statements have been distributed as late as mid-March in the past. We strongly recommend waiting until after March 15th to file your taxes to avoid needing to amend your returns.

Important Cut-Off Dates

April 15, 2024 – IRA and Roth IRA Contribution* Cutoff
IRA and Roth IRA contributions for 2023 must be received prior to April 15th, 2024. If you plan to open a new IRA or Roth IRA account, please contact our Client Services Team no later than April 1st.

September 16, 2024 – For Extensions – SEP IRA and Individual (k) Contribution* Cutoff
SEP IRA and Individual K contributions can be made until your tax filing, including extensions.

*Contributions made by check should be made payable to “Pershing LLC FBO ‘Your Name’” and mailed to your Client Service Representative for deposit. Be sure to include the contribution year and receiving account number on the memo line of the check.

Requesting a distribution to pay your tax bill: If you need to request money from your accounts to pay your tax bill, please contact our Client Services department at least 4 business days in advance. 

We typically advise waiting until at least March 15th to file, as there could be delays in receiving your finalized 1099. 

We apologize for delays in this process that are beyond our control. We hope that all of the information provided here presents a clear timeline of what to expect and when to expect it so that your tax preparation and filing can go as smoothly as possible. We would sincerely like to avoid clients needing to file an amendment due to a lack of clarity or information. 

If you made Qualified Charitable Distributions (QCD) from your IRA, you will receive a 1099-R that includes all of your distributions, including the QCDs. It is your responsibility to determine the amount of your distribution that is attributable to QCDs. You will need to provide the amount of QCDs you made to your CPA so that they can report it on your tax return. If you prepare your own return, you will need to indicate that you made QCDs so that the software excludes the QCDs from your taxable income. 

Please do not hesitate to contact us: 

• If you have questions about when to expect your 1099 documents or how to obtain a copy, please reach out to our Client Services team. 
• If you have questions about importing your 1099s into tax software or need help troubleshooting, please reach out to our Technology Department. This team can also help you to access your Tamarac Client Portal if you are having difficulty. 
• If you have questions about information within your 1099s and other tax documents or planning-related inquiries, please reach out to your financial advisor directly.