Tax Resources

When and How to Access Your Elevations Tax Documents

Your Elevations tax documents will be available online or mailed to you by Jan. 31.

To access your tax documents online, please log in to Elevations Online Banking and follow the instructions below for each form:

  • Form 1099-INT (interest income) - click the "Additional Services" menu and select "eDocuments." In the statement portal, click "Tax Statements." NOTE: if your dividend earnings are less than $10, you will not receive a 1099-INT statement.

  • Form 1098 for Mortgages - click on your mortgage on the account dashboard. In the Mortgage Service Center click the "Loan Information" menu and select "Year-End Statement."

  • Form 1098 for HELOCs - click the "Additional Services" menu and select "eDocuments." In the statement portal, click "Tax Statements."

Additional documents you might be looking for:

Dividends earned on accounts and U.S. Savings Bonds

Form Name: 1099-INT Date Available: Postmarked no later than Jan. 31 How the form will be received:

  • Members will receive one tax form with total dividends from all Elevations accounts, except tax deferred accounts such as IRAs, ESAs or HSAs. Joint account holder names and account numbers will not appear on tax forms

  • Members enrolled in eDocuments will receive their form by logging into Online Banking for their oldest account (the account with the smallest account number)

  • Members who are not enrolled in eDocuments will receive their form by mail to the address on file for their oldest account (the account with the smallest account number)

  • To enroll in eDocuments, log in to online banking and click on the "Additional Services" tab, and then select "eDocuments"

  • As an additional level of identity theft protection, only the last 4 digits of social security numbers will be displayed on 1099 INT forms

Dividends earned on accounts for Non-Resident Aliens

Form Name: 1042-S Date Available: Postmarked no later than Jan. 31 How the form will be received: For each dividend-earning share, members will receive a separate tax form, except tax-deferred accounts such as IRAs, ESAs or HSAs. Joint account holder names and account numbers will not appear on tax forms.

  • Members enrolled in eDocuments can access their form by logging into online banking

  • Members who are not enrolled in eDocuments will receive their form by mail to the address on file

  • To enroll in eDocuments, log in to online banking and click on the "Additional Services" tab, and then select "eDocuments"

Interest paid on Mortgages

Form Name: 1098 Date Available: Postmarked no later than Jan. 31 How the form will be received: Members will receive their form by mail to the address on file for the mortgage loan account. You can also find the statement in online banking. Click on your mortgage on the account dashboard, then in the Mortgage Service Center click the "Loan Information" menu and select "Year-End Statement."

Interest paid on home equity lines of credit (HELOC), home equity loans and consumer construction loans

Form Name: 1098 Date Available: Postmarked no later than Jan. 31 How the form will be received:

  • Members enrolled in eDocuments will receive their form by logging into Online Banking for their account with the equity loan

  • Members who are not enrolled in eDocuments will receive their form by mail to the address on file for their account with the loan

  • To enroll in eDocuments, log in to online banking and click on the "Additional Services" tab, and then select "eDocuments"

  • As an additional level of identity theft protection, only the last 4 digits of social security numbers will be displayed on 1098 forms

Interest paid on FHAP Guaranteed Loans

Form Name: 1098 Date Available: Postmarked no later than Jan. 31 How the form will be received: Members will receive their form by mail to the address on file for the mortgage loan account. This form is not available online.

Distributions made from IRAs and HSAs

Form Name:

  • 1099-R for Traditional and Roth Individual Retirement Accounts (IRAs)

  • 1099-Q for Coverdell Education Savings Accounts (ESAs)

  • 1099-SA for Health Savings Accounts (HSA)

Date Available: Postmarked no later than Jan. 31

How the form will be received: Members will receive their form by mail to the address on file for the tax-deferred account. These forms are not available online.

Contributions made to IRAs and HSAs

Form Name:

  • 5498 for Traditional and Roth Individual Retirement Accounts (IRAs)

  • 5498-ESA for Coverdell Education Savings Accounts (ESAs)

  • 5498-SA for Health Savings Accounts (HSAs)

Date Available: Postmarked no later than Apr. 30 (Form 5498-ESA) and May 31 (Forms 5498 and 5498-SA) How the form will be received: Members will receive their form by mail to the address on file for the tax-deferred account. These forms are not available online.

Prior Year HSA and IRA Contributions

Prior year HSA and IRA contributions must be done in person. The last day to make prior year HSA or IRA contributions is Tax Day: April 18, 2023. IRA contributions and withdrawals must be accompanied by a signature. Your IRA may be invested into an IRA Share (Savings) Account or an IRA Certificate.

Get Your Refund Faster

Get your tax refund the fastest and most secure way possible with direct deposit. To set up direct deposit, you will need the Elevations routing number (307074580) and your 13-digit account number. You can find your account number at the bottom of your checks or in online banking. To find the number in online banking, log in to your account and select the appropriate checking account. Select "Account Details" to view the ACH number (this is your account number). If you have questions, we’re here to help. Please contact us.

TurboTax® Discount

Getting your biggest possible tax refund has never been easier. From simple to complex taxes, TurboTax® has you covered. Just answer questions about your year, and TurboTax® fills in all the right forms for you. Get started by logging into Elevations online banking. Elevations members can save up to $15 on TurboTax Federal products!

*The use of TurboTax® is governed by Intuit's software licensing agreement. Intuit, TurboTax® and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries and are used with permission. Intuit is not affiliated with Elevations Credit Union. Intuit is solely responsible for the information, content and software products provided by Intuit. Elevations Credit Union has not been involved in the preparation of the content provided by Intuit and does not explicitly or implicitly endorse or approve such content. Elevations Credit Union cannot guarantee that the information and content supplied is accurate, complete, or timely, or that the software products provided produce accurate and/or complete results. Elevations Credit Union does not make any warranties with regard to the information, content or software products or the results obtained by their use. Elevations Credit Union disclaims any liability arising out of your use (or the results obtained from, interpretations made as a result of, or any tax position taken in reliance on information provided pursuant to, your use) of these Intuit software products or the information or content furnished by Intuit.

Commonly Asked Questions

What should I do if I did not receive my 1099-INT?

Verify that your total dividend income was $10 or greater. Your dividends earned on each account can be viewed on your December account statement. You will not receive a 1099-INT when the dividends earned for a given Tax Identification Number are less than $10. If you are enrolled in eDocuments and earned $10 or more in dividends, please log in to online banking and select “eDocuments.”

Why didn't I get a form for my IRA/HSA Distributions?

If you did not have any distributions from your IRA/HSA, you would not receive a 1099-R/Q/SA form.

Will I owe income taxes when I withdraw from my Traditional IRA?

In most cases, you will owe income taxes when you withdraw from your Traditional IRA. If you make nondeductible contributions to a Traditional IRA, a portion of each withdrawal will be treated as the nontaxable return of these contributions. Please consult a tax advisor.

Are contributions to a Traditional IRA tax deductible?

Contributions may be deductible based on your retirement plan coverage, filing status and income. To be sure, it is best to consult a tax advisor.

Are contributions to a Coverdell ESA tax deductible?

No. Coverdell ESA contributions are not tax deductible.

Are contributions to a SEP Plan tax deductible?

Generally, if they were made by your employer, you cannot deduct these contributions. If you made the contributions as a self-employed person, they may be deductible. Consult a tax advisor.

If I completed a rollover from my other financial institution to Elevations Credit Union, will I receive a 1099-R and/or 1099-Q form from Elevations?

No. In this situation, the other financial institution will provide you with the 1099-R/1099-Q Tax Form(s). You may receive 1099-R/1099-Q Tax Form(s) for other withdrawals made from your IRA at Elevations Credit Union.

What is a 1099-C form?

A 1099-C reports cancellation of debt by collections. This form will show the date of cancellation and the amount. The IRS requires that the forms are postmarked no later than Jan. 31.

Do I need to send Elevations a copy of my tax bill?

A copy of your tax bill is sent to us automatically, so you do not need to send in a copy.