Investment statement: what it is, and how it differs from your 1099

A brokerage statement covers one account for one period. It lists the account owner, the account number, the opening and closing value, each holding with its value, purchases and sales, dividends and interest received, deposits, withdrawals and fees.

Brokers send statements monthly when the account has activity, and at least quarterly. Retirement plans such as a 401(k) send their own statements, often quarterly. Lenders use these statements to verify assets; tax preparers use the 1099 instead, and sometimes both.

The firm that holds the account issues the statement: a brokerage (Fidelity, Schwab, Vanguard, Robinhood and similar), a robo-advisor, or the administrator of an employer retirement plan. The consolidated 1099, which combines Forms 1099-B, 1099-DIV and 1099-INT, comes from the same firm early in the following year as a separate document.

1. Your brokerage website or app, under Statements, for monthly and quarterly statements.
2. The Tax documents or Tax forms section of the same account, for the consolidated 1099.
3. The plan administrator’s website (named on your pay stub or plan documents) for a 401(k) or 403(b).
4. The firm’s customer service line, for older statements or a closed account.

• The consolidated 1099 when a lender asked for asset statements, or a statement when the preparer needed the 1099.
• A portfolio screenshot from the app, with no account owner or statement date.
• Only the summary page, without the holdings and activity pages.
• One account when you hold several at the same firm, such as a taxable account and an IRA.
• A preliminary or estimated tax document instead of the final 1099.