Your year-end tax-planning checklist for 2024

As always, please consult a tax advisor for specifics about your tax situation.

1. Review your withholding to make preliminary tax estimates and adjust income or spending, if appropriate

Visit etrade.com/taxguide to view our Current Rates and Brackets guide.

 

2. Consider making a 2024 IRA contribution and create or refresh your retirement strategy to help stay on track for retirement

Maximizing your allowable annual IRA contribution may provide potential tax advantages, and it’s important to have a clear retirement strategy and to review and update it every year. Check out our retirement planning page at etrade.com/retirement to start a plan for retirement or double-check the one you already have.

Key dates:

Dec 16, 2024—Last day to request a Roth IRA conversion for tax year 2024. (Requests received later will be processed on a best-efforts basis. Please note, all cash distributions require sufficient funds in the account, and all fully paid lending securities must be settled prior to making a request.)

April 15, 2025—Last day to contribute to an IRA for 2024.

 

3. Think about making a charitable contribution to potentially maximize your giving to a favorite cause

Donations of qualified appreciated stock may be a way to give more to a cause you support. It's easy to do online at etrade.com/donations—or at etrade.com/spdonations for stock plan participants.

Key dates:

Dec 2, 2024—Last day to request a donation of options or mutual funds for 2024.

Dec 16, 2024—Last day to request a donation of stock, bonds, or cash for 2024. Requests received later will be processed on a best-efforts basis.

 

4. Review your gains, losses, expenses, income, and distributions to help spot opportunities to reduce your 2024 taxes

Remember that certain investment distributions may be taxed as ordinary income, while others may qualify for a tax deduction. Visit etrade.com/gainloss to see your gains and losses (or etrade.com/spgainloss for stock plan participants). Don’t forget to consult your tax or financial advisor for information on your holdings, as well as the timing of any future investments you may be considering.

To plan for future tax seasons, learn more about tax loss harvesting and how you can incorporate tax-efficient strategies into your long-term investing.

 

5. Bookmark the Documents page where your Forms 1099 and other tax documents and notifications will be posted starting in January

New this year, we'll notify you on etrade.com with an estimated date of when your Forms 1099 will be available—or, if applicable, that a Form 1099 will not be issued for the 2024 tax year. We encourage you to visit the Documents page regularly for updates. You can also get there by selecting "Documents & Statements" in the top navigation from the Accounts navigation menu.

You'll be able to view tax documents across all your accounts for a given period on the updated Documents page. Also, check out our guides for reading your tax forms, available as links in the bottom section of the Documents page.

Key dates:

By Jan 31, 2025—Forms 1099-R and 1099-Q for E*TRADE retirement accounts and Coverdell education savings accounts will be mailed and accessible online.

By Mar 15, 2025—Forms 1099 for E*TRADE brokerage and stock plan accounts will be mailed and available online no later than this date; however, most Forms 1099 will be available by February 15. The Stock Plan Transactions Supplement will also be available online.

Important: Most Forms 1099 will be issued by February 15; however, because certain data related to income reclassification, among other things, may not be available by then, some forms may not be issued until March 15. This delay reduces the likelihood that an amended tax form will later be required. Please note: While the IRS deadline for Forms 1099 is February 15, Morgan Stanley requests an extension of an additional month from the IRS.

6. Visit the E*TRADE Knowledge Library to boost your skills and know-how around taxes and investing

Find articles and resources on everything from getting ready for Tax Day to tax-savvy giving, understanding the alternative minimum tax, and much more—all at etrade.com/taxknowledge.

Key dates:

Dec 27, 2024—Last day to buy or sell stocks, mutual funds, and ETFs for 2024.

Dec 27, 2024—Last day to open or close a short-sale position and have the transaction reported for 2024.

For additional tax information and tools, visit our Tax Center at etrade.com/tax.