Income Tax/Year-End Information

  • How will I receive my tax documents?

    • All tax documents are mailed via USPS. Please verify your address by visiting User Profile from the main menu in online banking.

      Members who are opted-in to receive eStatements will also receive digital documents within online banking. Digital tax documents are located within the Tax Center, found under the Quick Links menu. Mortgage tax documents are within the mortgage portal.

  • Turbo Tax
    • A link to Turbo Tax is available on the Member Perks page. Members can file Income Tax returns electronically from that site. When setting up your income tax refund on direct deposit, please use your full, 12 digit account number and our 9 digit routing number. Your full account number can be found inside of online banking by clicking on the 'Services' tab and then selecting 'Display MICR - Routing Number & Account Number.' It can also be found on the LMCU mobile app, under 'Account Info' in the main menu. While LMCU does not have a connection with Turbo Tax, this program should provide the ‘help’ to support its users. If you do not feel qualified to use this “self-help” program, LMCU recommends a qualified professional with up to date training in tax laws to assist you with completing income tax filing.

  • View Transactions
    • You can view all account transactions for the last 12 months inside of Online Banking. After you log in, click on the account that you would like to view from the main page. The next page displays all transactions for that account starting with the most recent transaction. You are able to sort or narrow down your search by using the filter options to look for specific transactions or for a specific date range.

  • What is LMCU’s Tax ID number?
    • LMCU's Tax ID number is 38-1215360.

  • When will I receive my tax documents?

    • Available by January 31: forms 1098, 1099-SA, 1099-Q, 1099-R, 1099-INT, 1099-MISC, 1099.

      Available by May 31: forms 5498, 5498-SA, 5498-ESA. Please note these forms are not needed to file taxes but should match the information you filed on your returns and be kept for your records.

      Documents are mailed via USPS. Members opted-in to eStatements will also receive digital documents within the Tax Center in online banking, and within the mortgage portal for mortgage docs.

  • YTD Dividend Earned
    • Dividend is interest paid to you as a return on your Share Deposits. These Year-to-Date totals are delivered to you in a 1099 mailing by the end of January and are also available in Online Banking:

      1. Log in to your account.
      2. Click on the 'Services' tab
      3. Scroll to the bottom to 'Tax Center'

      The December year-end statement shows YTD totals for open accounts and does not include dividends paid on CDs or savings accounts that were closed during the year.

      When paid dividends total less than $10.00, no 1099 is issued as those earnings are not reported to the IRS. You should consult a qualified Tax Professional to determine how these dividends should be included as income when you file your income tax returns.

  • YTD Interest Paid
    • The total interest you paid on loans for the year is delivered to you on your December year end statement. Mortgage and Home Equity interest amounts are sent in a separate 1098 mailing by the end of January.

      These totals are also available in Online Banking.
      1. Log in to your account
      2. Click on the 'Services' tab
      3. Scroll to the bottom to 'Tax Center'
      You should consult a qualified Tax Professional to determine whether this interest qualifies as a deduction as you file your income tax returns.