Year-End Tax DocumentsAll 2019 year-end tax forms/documents will be mailed to members by the end of January. For members enrolled in Member Access, these forms will also be available online on or before January 31st.
For more information or questions about your tax documents, please contact your local branch or our 24/7 Member Services at (888) 732-8562.
Below is a list of the Credit Union's 2019 year-end documents:
A Mortgage Interest Statement shows the mortgage loan interest paid, property taxes paid by escrow, and any private mortgage insurance paid by escrow (if applicable) for DOT secured loans (including traditional mortgages and home equities).
Receipt of this form shows that a lender has acquired an interest in real property (such as a personal residence) from you that was security for a loan or said lender has reason to know that this property has been abandoned. As a result, you may have reportable income or loss because of such acquisition or abandonment.
Receipt of this form shows that a Federal Government agency or applicable financial entity (a creditor) has discharged (cancelled or forgiven) a debt you owed, or because an identifiable event has occurred that either is or is deemed to be a discharge of a debt of $600 or more. You are required to include the discharged amount in your income even if it is less than $600.
An interest income statement shows the amount of interest/dividends earned from deposit accounts and/or savings bonds. The form also reports any penalties paid due to early withdrawal from a share term certificate account. You are required to include interest/dividends earned in income even if less than $10.00. Unless a penalty is to be reported, members with total interest/dividends less than $10.00 will not receive a 1099INT statement; however, total interest earned for the year can be found on your December account statement.
Coverdell Education Savings Account distribution report
Retirement account (distribution report) for Traditional, SEP, Roth and Beneficiary IRAs
Health Savings Account distribution report
Credit Card Annual Activity Summary
The Credit Card Annual Activity Summary provides cardholders with a yearend itemized list of all the transactions on their account in categories such as restaurants, groceries, travel/lodging, merchandise/retail, and gas/automotive expenses. This money management tool can help with budgeting household expenses and preparing for taxes. This comprehensive summary of card usage for the previous year is available for cardholders who made a minimum of 25 purchases with their credit card for the calendar year.