Tax Center

[{"groupName":"Tax FAQs for Victory Funds Accounts","faqList":[{"faqnumber":0,"question":"When will my 1099DIV/B tax form be available?","answer":"\u003cp\u003eVictory Capital produces a consolidated tax form to include 1099DIV and 1099B tax information for Victory Funds accounts. The deadline for a consolidated 1099DIV/B tax form to be sent to investors is February 15, 2024. If securities issuers indicate that they may reallocate dividend income, you will receive your form no later than March 15, 2024. Most reallocation decisions have been made by then, but you\u0027ll get the form even if a change hasn\u0027t happened.\u003c/p\u003e\n\u003cp\u003eThe Tax Forms Delivery Schedule is available in pdf format \u003ca href\u003d\"https://www.vcm.com/content/dam/vcm/resources-mutualfunddoc/2023_Tax_Form_Delivery_Schedule.pdf\" target\u003d\"_blank\"\u003e\u003cb\u003ehere\u003c/b\u003e\u003c/a\u003e.\u003c/p\u003e\n"},{"faqnumber":1,"question":"Can I access my Victory Funds tax documents online?","answer":"\u003cp\u003eLog in to \u003ca href\u003d\"https://mysecure.vcm.com/documentcenter\"\u003ehttps://mysecure.vcm.com/documentcenter\u003c/a\u003e. Select the year and from the Document Category drop-down menu box, select “Tax Documents.” If you elected delivery by mail, you can also expect postal delivery. If you are unable to access online and haven’t received via mail, please contact us.\u003c/p\u003e\n"},{"faqnumber":2,"question":"How do I contribute to my IRA for 2023?","answer":"\u003cp\u003e\u003cb\u003eExisting Investors\u003c/b\u003e\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003eAfter signing in from the main dashboard, please select the IRA account you would like to contribute to. Select “Place a Trade” at the top right and then select “Buy” from the dropdown.\u003c/li\u003e\n\u003cli\u003eIn “Section 2 – Investment Selection,” select the Mutual Fund you would like to contribute to and enter the contribution amount. Then hit “Next.”\u003c/li\u003e\n\u003cli\u003eIn “Section 3 – Funding Source,” choose how to fund your account and in the “Contribution for IRA Account” field, select “Prior Year” from the dropdown. Then hit “Next.”\u003c/li\u003e\n\u003cli\u003eIn “Section 4 – Review \u0026amp; Confirm,” review and confirm\u003ci\u003e \u003c/i\u003eyour prior year contribution. Then hit “Submit.”\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003e\u003cb\u003eNew Investors\u003c/b\u003e\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003e\u003cspan style\u003d\"color: rgb(50,50,50);\"\u003eClick “Sign Up” and complete the registration process.\u003c/span\u003e\u003c/li\u003e\n\u003cli\u003eSelect “Individual Retirement Account” from the “Open an Account” dashboard.\u003c/li\u003e\n\u003cli\u003eSelect the type of retirement account* you would like to open.\u003c/li\u003e\n\u003cli\u003eFollow the guided prompts to “Section 4 – Fund Your Account.”\u003c/li\u003e\n\u003cli\u003eIn the “Contribution for IRA Account” field, select “Prior Year” from the dropdown.\u003c/li\u003e\n\u003cli\u003eComplete the guided prompts and confirm in \u0026quot;Section 6 – Verify your Prior Year contribution.\u0026quot;\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003e*Traditional IRA, Roth IRA, Rollover IRA or Coverdell account\u003c/p\u003e\n"},{"faqnumber":3,"question":"When is the deadline to submit my 2023 taxes?","answer":"\u003cp\u003eThe filing deadline to submit 2023 tax returns or an extension to file and pay tax owed is Monday, April 15, 2024, for most taxpayers. For taxpayers who requested an extension, you will have until Tuesday, October 15, 2024, to file your return. For the latest information on tax deadlines visit: \u003ca href\u003d\"https://www.irs.gov/\" target\u003d\"_blank\"\u003e\u003cb\u003ehttps://www.irs.gov/\u003c/b\u003e\u003c/a\u003e.\u003cb\u003e\u003c/b\u003e\u003c/p\u003e\n"},{"faqnumber":4,"question":"How do I calculate my cost basis for my Victory Funds?","answer":"\u003cp\u003eOn your account holding page, there is a column labeled “Total Cost.” To calculate the average share cost, divide total cost by the total shares in the account. If you want to calculate cost basis using a different method, please contact us.\u003c/p\u003e\n"},{"faqnumber":5,"question":"Where do I find the full capital gains report for the funds I’m invested in?","answer":"\u003cp\u003eThe full report for Victory Funds is available \u003ca href\u003d\"https://investor.vcm.com/tools-resources/tax-center#capgains\"\u003ehere\u003c/a\u003e.\u003c/p\u003e\n"},{"faqnumber":6,"question":"When will I receive my 5498-tax form for my 2023 IRA contribution?","answer":"\u003cp\u003eYour 5498-tax form will be available online by May 11, 2024. To access this form, log in to \u003ca href\u003d\"https://mysecure.vcm.com/documentcenter\"\u003ehttps://mysecure.vcm.com/documentcenter\u003c/a\u003e. Select the year from the \u0026quot;Document\u0026nbsp;Category\u0026quot; drop-down menu box, then select “Tax Documents.” If you elected delivery by mail, you can also expect postal delivery. If you are unable to access online and haven’t received via mail, please contact us.\u003c/p\u003e\n"},{"faqnumber":7,"question":"Where is my USAA 529 1099Q tax form?","answer":"\u003cp\u003eTo access form 1099Q for your 529 Plan account, login to\u0026nbsp;\u003ca href\u003d\"https://mysecure.vcm.com/\"\u003ehttps://mysecure.vcm.com\u003c/a\u003e. Under the Education tab, select the appropriate account. This will redirect you to the Ascensus website where you will select “View profile and documents” from the left menu screen. Next, select “Statements, Confirms \u0026amp; Tax Forms.” From there, select the applicable tax year, the 529 Plan account beneficiary and select “Tax Forms.”\u003c/p\u003e\n"},{"faqnumber":8,"question":"What version of TurboTax do I need in order to import my 1099DIV/B and 1099R?","answer":"\u003cp\u003eTo import your 1099DIV/B and 1099R, you will need the Premier or Self-Employed version of TurboTax.\u003c/p\u003e\n"},{"faqnumber":9,"question":"When TurboTax asks for my “Fund Account Number,” where can I locate this number?","answer":"\u003cp\u003eIf importing Victory Funds details from a 1099R, please reference the “Account number” field. You do not need to enter the prefix # - you will need to enter the last 11 digits.\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eIf importing Victory Funds details from a 1099DIV/B combined tax form, please reference the “Acct. No.” field.\u0026nbsp;\u003cspan style\u003d\"font-family: benton-sans , sans-serif; font-size: 16.0px; font-style: normal; font-weight: 500; letter-spacing: 0.0px;\"\u003eFund Account numbers can also be located on your Positions page\u0026nbsp;on \u003c/span\u003e\u003ca href\u003d\"https://mysecure.vcm.com/\"\u003ehttps://mysecure.vcm.com\u003c/a\u003e\u003cb style\u003d\"font-family: benton-sans , sans-serif; font-size: 16.0px; font-style: normal; letter-spacing: 0.0px;\"\u003e \u003c/b\u003e\u003cspan style\u003d\"font-family: benton-sans , sans-serif; font-size: 16.0px; font-style: normal; font-weight: 500; letter-spacing: 0.0px;\"\u003eafter selecting the applicable account from the main dashboard.\u003c/span\u003e\u003c/p\u003e\n"},{"faqnumber":10,"question":"I am trying to copy/paste my fund account number into TurboTax, why am I getting an error?","answer":"\u003cp\u003eThe copy/paste function is only available for the Online TurboTax version (this is a TurboTax limitation).\u003c/p\u003e\n"},{"faqnumber":11,"question":"How do I enter the Social Security Number associated to my account in TurboTax if I am not the Primary account holder?","answer":"\u003cp\u003ePlease review the applicable tax form and reference the “Recipient’s TIN” section. Although masked on your 1099, please enter the complete SSN/TIN associated with your account(s).\u003c/p\u003e\n"}]},{"groupName":"Tax FAQs for Marketplace Brokerage Accounts","faqList":[{"faqnumber":0,"question":"When will my 1099DIV/B tax form be available?","answer":"\u003cp\u003eTax forms are not consolidated for Marketplace Brokerage accounts. If applicable, investors will receive separate 1099DIV and 1099B tax forms. Tax documents will be sent out when information is finalized by securities issuers. Most 1099B and 1099DIV tax forms will be sent by mail no later than February 15, 2024. However, if an issuer indicates a delay in finalizing information, the form may be delayed until March. If this occurs, a pending 1099 notice will be sent by February 15, 2024. The notice will include a list of investments awaiting information from issuers.\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eMailing dates:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eJanuary 31\u003c/li\u003e\n\u003cli\u003eFebruary 15\u003c/li\u003e\n\u003cli\u003eFebruary 28\u003c/li\u003e\n\u003cli\u003eMarch 15 – for all remaining accounts even if information is pending.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eTo access tax forms for your Marketplace Brokerage account, login to \u003ca href\u003d\"https://mysecure.vcm.com\"\u003ehttps://mysecure.vcm.com\u003c/a\u003e and click on the \u0026quot;Marketplace\u0026quot; tab. Choose the appropriate account. Click on “Communications” then “Tax Documents.”\u0026nbsp;\u0026nbsp;\u003c/p\u003e\n"},{"faqnumber":1,"question":"How do I contribute to my IRA for 2023?","answer":"\u003cp\u003e\u003cb\u003eMarketplace Existing Investors\u003c/b\u003e\u003c/p\u003e\n\u003cp\u003eYou can access your account and make a one-time contribution for the prior year on \u003ca href\u003d\"https://mysecure.vcm.com/\"\u003ehttps://mysecure.vcm.com\u003c/a\u003e, if you have a bank account linked to your Marketplace account.\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eAfter signing in, from the main dashboard, select “Marketplace” and click on your account.\u003c/li\u003e\n\u003cli\u003eSelect “Transact” then “Funds Transfer” and select your bank as the “from” account and your Marketplace IRA as the “to” account.\u003c/li\u003e\n\u003cli\u003eEnter the dollar amount you would like to invest.\u003c/li\u003e\n\u003cli\u003eUnder the contribution period, select “Previous Year.” Then click review and submit.\u003c/li\u003e\n\u003cli\u003eFunds will remain in the brokerage sweep account until you place a trade.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eIf you need to link a bank account, you may do so by selecting “Marketplace Accounts” from your dashboard, then select “Transfer Funds” for the appropriate account. Then scroll to the bottom of the page and click “Link Account” to enter your banking information. Then follow the steps above.\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eYou may also add a bank account by completing the “ACH Authorization Form for Standing and Periodic Instructions” form on \u003ca href\u003d\"https://vcm.com\"\u003evcm.com\u003c/a\u003e. Go to \u0026quot;Tools \u0026amp; Resources\u0026quot; \u0026gt; \u0026quot;Forms\u0026quot; \u0026gt; then select \u0026quot;Marketplace\u0026quot; and search for ACH.\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003e\u003cb\u003eMarketplace New Investors\u003c/b\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eClick “Sign Up” and complete the registration process.\u003c/li\u003e\n\u003cli\u003eTo open a new Marketplace Traditional or Roth IRA, select the Marketplace link on the left. Then click on “Open a new Marketplace account.”\u003c/li\u003e\n\u003cli\u003eSelect your account and go to “Funds Transfer” on the right to add a bank account. Please note it might take a few minutes for your account to appear on your profile.\u003c/li\u003e\n\u003cli\u003eAfter you complete the application process, select your Marketplace account on\u0026nbsp;\u003ca href\u003d\"https://mysecure.vcm.com/\"\u003ehttps://mysecure.vcm.com\u003c/a\u003e\u0026nbsp;and go to “Transfer Funds” on the right then scroll down and click \u0026quot;Link Account\u0026quot; to add a bank account.\u003c/li\u003e\n\u003cli\u003eAfter bank add is complete, follow steps 2 through 5 under the \u0026quot;Marketplace Existing Investors\u0026quot; section above.\u003c/li\u003e\n\u003c/ul\u003e\n"},{"faqnumber":2,"question":"When is the deadline to submit my 2023 taxes?","answer":"\u003cp\u003eThe filing deadline to submit 2023 tax returns or an extension to file and pay tax owed is Monday, April 15, 2024, for most taxpayers. For taxpayers who requested an extension, you will have until Tuesday, October 15, 2024, to file your return. For the latest information on tax deadlines visit: \u003ca href\u003d\"https://www.irs.gov/\" target\u003d\"_blank\"\u003ehttps://www.irs.gov/\u003c/a\u003e\u003cb\u003e\u003c/b\u003e\u003c/p\u003e\n"},{"faqnumber":3,"question":"How do I calculate my cost basis for my Marketplace Accounts?","answer":"\u003cp\u003eYou may view your cost basis on Marketplace. After you login to your Marketplace account, select “Accounts,” then “Gain/Loss.” Click on the carrot \u0026gt; to the left of the position you want to view and the tax lots will be displayed underneath.\u003c/p\u003e\n\u003cp\u003eInvestors may need to adjust their cost basis. A reporting financial firm is not required to reports uncovered shares on IRS Form1099-B. Investors are responsible for validating the information downloaded to tax preparation software with the official tax documents produced for their accounts.\u003c/p\u003e\n"},{"faqnumber":4,"question":"Where do I find the mutual fund capital gains report for mutual funds held in my Marketplace accounts?","answer":"\u003cp\u003eYou can view Victory Funds capital gains reports \u003ca href\u003d\"https://investor.vcm.com/tools-resources/tax-center#capgains\"\u003ehere\u003c/a\u003e\u003cspan style\u003d\"font-family: benton-sans, sans-serif; font-size: 16px; font-style: normal; font-weight: 500; letter-spacing: 0px;\"\u003e. For third-party mutual funds, you can view this information on the fund family’s website.\u0026nbsp;\u003c/span\u003e\u003cbr\u003e\n\u003c/p\u003e\n"},{"faqnumber":5,"question":"Where can I find my most recent statements?","answer":"\u003cp\u003eTo access your statements for your Marketplace Brokerage account, login to \u003ca href\u003d\"https://mysecure.vcm.com\"\u003ehttps://mysecure.vcm.com\u003c/a\u003e and click on the \u0026quot;Marketplace\u0026quot; tab. Choose the appropriate account. Click “Communications” then “Statements \u0026amp; Reports.”\u003c/p\u003e\n"},{"faqnumber":6,"question":"When will I receive my 5498-tax form for my 2023 IRA contribution?","answer":"\u003cp\u003eThe 5498 tax forms will be available online and/or be sent by mail no later than May 31, 2024.\u0026nbsp;\u0026nbsp;\u003c/p\u003e\n"},{"faqnumber":7,"question":"What version of TurboTax do I need in order to import my 1099DIV/B and 1099R?","answer":"\u003cp\u003eTurbo Tax form downloads are not available for Marketplace for the 2023 tax year.\u003c/p\u003e\n"},{"faqnumber":8,"question":"When TurboTax asks for my “Fund Account Number,” where can I locate this number?","answer":"\u003cp\u003eTurbo Tax form downloads are not available for Marketplace for the 2023 tax year.\u0026nbsp;\u003c/p\u003e\n"},{"faqnumber":9,"question":"I am trying to copy/paste my fund account number into TurboTax, why am I getting an error?","answer":"\u003cp\u003eTurbo Tax form downloads are not available for Marketplace for the 2023 tax year.\u003c/p\u003e\n"},{"faqnumber":10,"question":"How do I enter the Social Security Number associated to my account in TurboTax if I am not the Primary account holder?","answer":"\u003cp\u003eTurbo Tax form downloads are not available for Marketplace for the 2023 tax year.\u0026nbsp;\u003c/p\u003e\n"}]}]