How to Access and Use Your SoFi 1099 for Tax Filing

Tax season requires gathering the necessary documents, and if you’ve earned interest, dividends, or sold investments through SoFi, you’ll receive a 1099 form. This document reports taxable income to both you and the IRS, making it essential for accurate filing.

SoFi provides digital access to these forms, and knowing where to find them and how to use them with other income sources can simplify tax preparation.

1099 Forms Provided by SoFi

SoFi issues different 1099 forms based on the type of income earned. Each form reports specific taxable events, ensuring accurate reporting.

1099-INT

This form is issued if you earned more than $10 in interest from SoFi accounts, including savings or checking accounts. The reported amount includes regular interest payments and promotional bonuses. Interest income is taxed as ordinary income, subject to the same tax rates as wages or salary.

If you received $1,500 or more in interest during the year, you may need to complete Schedule B (Form 1040) to itemize these earnings. State tax treatment varies—most states tax interest income, but states without income tax, such as Texas and Florida, do not.

If backup withholding was applied—typically 24% due to missing or incorrect taxpayer information—this will be reflected on the form. You may be able to claim this withheld amount as a credit when filing.

1099-DIV

If you earned dividends from stocks, exchange-traded funds (ETFs), or mutual funds in a SoFi Invest account, this form reports those payments. It distinguishes between ordinary and qualified dividends, which are taxed differently. Ordinary dividends are taxed at regular income tax rates, while qualified dividends receive lower long-term capital gains tax rates, ranging from 0% to 20% depending on taxable income.

The form may also report capital gains distributions from mutual funds or real estate investment trusts (REITs), which are taxed similarly to dividends. If foreign tax was withheld on international investments, this will be noted, and you may be eligible to claim a Foreign Tax Credit using Form 1116.

If total dividend income exceeds $1,500, Schedule B (Form 1040) must be completed when filing.

1099-B

For those who sold stocks, ETFs, or other securities through SoFi Invest, the 1099-B form provides details of each transaction, including sale date, purchase price, sale price, and whether the gain or loss is short-term or long-term.

Short-term gains, from assets held for one year or less, are taxed at ordinary income rates, while long-term gains receive preferential capital gains tax rates. The form also indicates whether SoFi reported cost basis information to the IRS. If cost basis is missing, you must determine it yourself.

If you engaged in wash sales—where you repurchased the same or a substantially identical security within 30 days before or after selling at a loss—the disallowed loss will be reflected on the form. These details must be reported on Form 8949 and Schedule D (Form 1040).

How to Access Digital Statements

SoFi provides 1099 tax forms exclusively online. To retrieve them, log into your SoFi account via the website or mobile app and navigate to the tax documents section under account settings. These forms are typically available by mid-February. If the form is not yet visible, check back periodically.

Downloading the statement as a PDF allows for easy storage. Review the document carefully for accuracy—errors in reported income or withholding can lead to IRS mismatches, potentially triggering notices or audits. If discrepancies are found, contact SoFi’s customer support to request a corrected form. If an amended 1099 is issued, ensure you use the updated version when filing.

Coordinating SoFi 1099 with Other Income Sources

Filing an accurate tax return requires consolidating all income sources. If you receive a 1099 from SoFi, it must be combined with other tax documents, such as W-2s for employment income and additional 1099s from freelance work or other investments.

For those with multiple brokerage accounts, investment income from SoFi should be reconciled with 1099s from platforms like Robinhood, Fidelity, or Charles Schwab. Ensuring total reported gains, dividends, and interest match IRS records helps avoid underpayment penalties or IRS notices. Tax software like TurboTax or H&R Block can assist in aggregating these figures, but manual verification is important.

Self-employed individuals or gig workers who receive 1099-NEC or 1099-K forms must also account for business deductions when integrating SoFi investment income. Since investment gains do not qualify for business expense offsets, keeping separate calculations for taxable business income and personal investment earnings prevents errors.

High-income earners should assess whether their combined income subjects them to the Net Investment Income Tax (NIIT), which applies a 3.8% surtax on investment profits if modified adjusted gross income (MAGI) exceeds $200,000 for single filers or $250,000 for married couples filing jointly.