IBKR Tax Forms and Annual Statements: How to Read Them
IBKR provides detailed tax reports that most accountants and tax advisors find comprehensive — but they can be overwhelming to a new user. This guide explains what each report contains, which one you need for your country's tax filing, and common mistakes to avoid.
IBKR tax reports: what's available
- Annual Activity Statement: full transaction history, realized P&L, dividends, FX conversions, fees
- 1099 composite (US residents/citizens): interest, dividends, and capital gains for IRS reporting
- Form 1042-S (non-US residents): US-source dividends subject to withholding tax
- Tax Loss Summary: net gains/losses by jurisdiction for manual calculation in non-US countries
- MTM (Mark-to-Market) Report: unrealized gains/losses for year-end valuation
Which report to use by country
For US residents and citizens: the 1099 composite (available by mid-February each year) is the primary document. For UK investors: use the Annual Activity Statement to identify disposal dates and proceeds, then calculate CGT using UK cost basis rules (bed-and-breakfast rule, share matching). For Indian residents: use the Annual Activity Statement and convert all amounts to INR at the relevant RBI reference rates for each transaction date.
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