What tax forms does TDECU send to members?
Depending on the number of accounts you have, you may have received the following tax forms from us:
By January 31, you could have received:
- 1098 - Mortgage Interest Statement form sent to members that paid any amount of mortgage interest for the year, including home equity loans
- 1099-C - Cancellation of Debt form sent to members that had $600 or more of debt cancelled that was owed to the credit union
- 1099-INT - Interest Income form sent to members earning $10 or more in interest on a non IRA deposit account. This form will also be sent to members that were paid an account / promotional bonus of $10 or more, but less than $600
- 1099-Q - Payments From Qualified Education Programs (Under Sections 529 and 530) form sent to members who requested a distribution from a Coverdell education savings account (CESA) under section 530.
- 1099-R - Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. form sent to members who requested a distribution from an IRA in the amount of $10 or more
By March 15, you could have received:
- 1042-S - Foreign Person's U.S. Source Income Subject to Withholding form sent to members that are foreign person's engaged in trade or business in the United States.
By May 31, you could have received:
- 5498 - IRA Contribution Information form sent to members that contributed to a Traditional or Roth IRA
- 5498-ESA - Coverdell ESA Contribution Information form sent to members that contributed to a Coverdell education savings account (CESA)
(Please note the final two forms relate to Traditional and Roth IRA contributions, and Coverdell education savings accounts made between January 1 of the current year and the tax filing deadline, typically April 15.)
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