Are you still waiting on your 1099 from your financial investment accounts?

Parents Forum
1

<p>I posted this on the Financial Aid Forum as well. We are stuck waiting for USB Financial to complete and send our 1099. It turns out that most of the large Financial Management Groups have requested a 30 day extention from the Jan. 31st deadline to submit their customers 1099’s. </p>

<p>We submitted the FAFSA and CSS Prifile with “estimated” figures but all the financial aid packages cannot be confirmed until we submit signed copies of our 2007 tax returns. </p>

<p>Anyone else in the same situation?</p>

2

<p>I think many of the large brokerage firms requested this extension this year to avoid the multiple corrections that have occurred in the past, e.g, the brokerage firm reports the numbers provided by the mutual fund company and then the mutual fund company sends corrections (sometimes more than once), resulting in correced 1099, the need to file amended tax returns, etc.</p>

3

<p>I know for a fact that Fidelity was granted this extension for at least some accounts. Qty expected: 2. Qty received: 0. And no, the Customer Rep was NOT apologetic.</p>

4

<p>Still waiting for forms as some firms got extensions- sure beats filing an amended return when the xth corrected statement comes. Those needing to let colleges know may want to let them know that this year many firms have gotten extensions if you feel it would help.</p>