taxes

Tax season is here, and this year we’re hoping it’s not going to be stressful, frustrating, annoying, tedious, or time-consuming. At least not for Betterment customers.

We’ve transformed the way people invest their money. That means we’ve built a service that helps our customers save money in taxes year-round (read about our suite of tax features here).

It also means we help make it easier for people to actually file. We create Betterment tax forms in-house and provide clear summaries. (You can easily download them from within your account.) We even provide integrations with TurboTax, H&R Block, and TaxACT to help filing your taxes go as smoothly as possible.

Before you get started, take a look at our tax season calendar to make sure you’re aware of some important tax deadlines. (Visit IRS.gov for more tax information.)

2017 Tax Season Calendar

Tax Deadline Why It’s Important
Jan. 31 Form 1099-R available from Betterment. This is only applicable for IRA and 401(k) accounts if you have taken distributions or rolled assets out in 2016. We’ll notify you by Jan. 31 if you are receiving a 1099-R.
Feb. 15 Betterment integrates with TurboTax, TaxACT, and H&R Block tax software.

Forms 1099-B available from Betterment. These are applicable if you have a Betterment taxable brokerage account (e.g., a Build Wealth or Safety Net goal) and trades occurred in 2016.

Form 1099-DIV available from Betterment. This is applicable if you have received more than $10 paid out in dividends. Read more here. We’ll notify you via email as soon as your statements are ready for download.

March 15 Last day to “use it or lose it” for many health FSA plans. Check with your provider for the specifics of your plan. Read more on IRS.gov.
April 17 at 10 p.m. EST Last chance to make a Betterment deposit into your IRA in order for it to trade in time to count as a 2016 contribution.
April 17 at 10 p.m. EST Last chance for Betterment to recharacterize a contribution or conversion for your IRA. This is a process that allows you to redefine all or part of your Roth IRA conversion as a contribution to a traditional IRA. Or, it allows you to treat a contribution made to one type of IRA as having been made to another type of IRA. Read more here.
April 18 Tax Day! This is the deadline to file your taxes. Some states, such as Maine or Massachusetts, adhere to state-specific holidays that may impact your tax deadline. Be sure to check with your state’s official website for the most accurate deadline information.
Oct. 17 Last day for extension filers to file their tax returns. See the IRS website for more details.

Visit our Tax Support Center for more information about preparing for tax time at Betterment, and visit IRS.gov for more tax information.

Betterment is not a tax advisor, nor should any information contained herein be considered tax advice. Please consult a tax professional.

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