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Open brokerage trust account in Tastytrade
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1 Reply
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Tastytrade said they can open a trust account. However, tastytrade mentioned their system does not currently have the ability to differentiate a solo 401K trust from any of the other trusts they have. Therefore, I will receive a consolidated 1099 tax form at the end of the year. As my understanding, a retirement trust should not receive consolidated 1099 tax form. Will this cause any issues? I am thinking it may be fine since IRS already label my trust EIN as retirement trust. Do I need do anything if I receive the consolidated 1099 tax form at the end of the year?
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