Tax Form Corrections

Why did I receive a corrected tax form?

Tax form corrections may be necessary for a variety of reasons, including:

• Reclassification of income for stocks or ETFs, where a company alters the tax classification of previously reported dividends or interest. This often happens after a tax form is issued, leading to a corrected tax form.
• Updates to cost basis received after the end of the year.
• Changes to your personal information made after the initial 1099 was issued.

How do I correct an inaccurate social security number on my 1099?

If the Social Security number on your form 1099 tax document is incorrect, please promptly submit a copy of your SSN card and an updated W-9 through the in-app Help Center to avoid backup withholding. According to IRS Publication 1281, a new tax form will only be issued if there is also an update to the reported dollar amount.

How do I correct an inaccurate TIN on my 1099?

Please contact client services via the  in-app Help Center. Our agents will correct the TIN for you. According to IRS Publication 1281, a new tax form will only be issued if there is also an update to the reported dollar amount.

How do I correct a misspelled name on my 1099?

Please submit a request to update your name to the correct spelling via the in-app Help Center. We will not be issuing a revised form 1099 for this year. However, to ensure accuracy for future documents, we request that you verify the correct spelling of your name. Please provide the following in your request:

• A photograph of your valid U.S. government-issued driver's license or passport
• A signed letter of instruction specifying your request for a name correction

How do I correct inaccurate trade history on my 1099?

If you suspect there is a discrepancy on your form 1099 tax document, please verify the information using the following items:

• Monthly account statements
• Trade confirmations

After confirming any discrepancy, please contact us via the in-app Help Center for further examination.

How do I report incorrect trade or dividend information on my 1099 tax document?

If you believe your form 1099 is incorrect, please contact us through the in-app Help Center. Provide photographs of your account's monthly statements along with an annotated copy of your tax documents. Our agents will review the issues and, if the tax documents are found to be inaccurate, we will issue an updated form 1099.

Where will I find my corrected 1099 tax form?

When a corrected form 1099 is issued, you will receive an email notification. You can download the updated form 1099 from the Webull app or website by following the instructions found here. Please ensure that you file your taxes based on this updated information, which may require re-filing.