Schwab provides all of the information that you or your tax preparer will need to file your tax return and/or estimate your investment income..

Note: unless you have opted-in for physical tax documents, you must download them from schwab.com; it is your responsibility to download the documents when they become available. Make sure you also gather tax documents from all other financial institutions, employers, and other income sources.

Make sure that you download the information relating to the correct tax year!

1099’s and other official IRS tax documents:

You must download and report form 1099 information for all taxable (non-IRA) accounts. You must download and report form 1099-R information if you took a distribution from an IRA account.

• On schwab.com, go to "statements and tax forms" and then "1099 dashboard."
• From the account summary screen, click the “statements and tax Records” icon.
• Download the documents shown in .pdf format and provide them to your tax preparer.
• If you self-file your tax return (not recommended!), you can import your Schwab tax data into several popular tax preparation software packages such as Turbotax.

IRS Estimated Quarterly Payments

It is very important to know that for taxable (ie, non-IRA) investment accounts, you are responsible to pay the tax owed on investment income “as it is earned.”

This means that if you wait until April 15th of the following year to pay the tax on investment distributions made during the year, you may incur penalties and interest liability. To avoid this, you must ensure that your withholding from all sources plus your estimated quarterly IRS payments (if applicable) are sufficient to cover your estimated tax liability.

Related: Do I need to pay estimated IRS payments?.