Apex Clearing 1099-B — Which Brokers Use It and Why It Matters at Tax Time

You open the TurboTax broker dropdown, type "Webull," and there it is. You click, sign in, and TurboTax tells you it can't find your account. You try "M1 Finance" — same result. You try "Stash" — not in the dropdown at all. The PDF on your desk clearly says "Webull Financial" or "M1 Finance Investments" at the top, so what's going on?

The answer is the same for half a dozen popular neobrokers: they don't actually issue your 1099-B. A clearing firm called Apex Clearing Corporation does, on their behalf. When TurboTax asks "which broker," it wants the entity that issued the tax document — and for an Apex-cleared account, that's Apex, not the app you actually trade in. This piece covers which brokers use Apex, how to identify your clearing firm from the 1099-B itself, and how to import correctly so all your trades come through on the first try.

What Apex Clearing Actually Does

A clearing firm is the financial-plumbing company behind your brokerage app. They custody your shares, settle your trades with the exchanges, generate your statements, and — critically for tax season — issue your 1099-B and other tax documents. The "broker" you see on your phone is the customer-facing front-end; the clearing firm is the regulated entity holding the actual securities.

Apex Clearing Corporation is one of the largest correspondent clearing firms in the US. They're based in Dallas, registered with the SEC and FINRA as a self-clearing broker-dealer, and provide back-end services to dozens of neobrokers and robo-advisors. When you sell a share inside Webull or M1 Finance, the trade goes through Apex's books — that's why your 1099-B shows up under the name Apex Clearing Corp as the issuer even though your app is branded Webull or M1.

This matters because the IRS receives a copy of your 1099-B with Apex's tax ID on it, not your front-end broker's. When TurboTax matches the document during auto-import, it's matching against the issuing entity. That's why typing your front-end app name into the broker dropdown often fails: TurboTax may not have a direct relationship with the front-end, only with the clearing firm.

Which Brokers Clear Through Apex

The roster changes over time — clearing relationships get added, dropped, and switched — but the brokers commonly cleared through Apex as of recent tax years include:

Broker	Clearing Firm	TurboTax Dropdown Pick
Webull	Apex Clearing	Apex Clearing
M1 Finance	Apex Clearing	Apex Clearing
Public.com	Apex Clearing	Apex Clearing
Stash	Apex Clearing	Apex Clearing
Betterment	Apex Clearing (most accounts)	Apex Clearing
Wealthfront	RBC Capital (not Apex)	Wealthfront / RBC
SoFi Invest	Apex Clearing (historical)	Apex Clearing
Acorns	Apex Clearing	Apex Clearing
Tastytrade	tastyworks (self-cleared)	Tastytrade
Robinhood	Robinhood Securities (self-cleared since late 2018)	Robinhood
TradeStation	TradeStation (self-cleared)	TradeStation
Cash App Investing	DriveWealth (not Apex)	Cash App / DriveWealth

The pattern: most "neobroker" apps that launched in the 2017-2020 wave used Apex from day one because Apex made it easy to spin up a new front-end without building a clearing operation. Larger or older platforms (Robinhood post-2018, Tastytrade, TradeStation) have moved to self-clearing because the unit economics improve at scale. Some platforms even straddle — Betterment is mostly Apex but has direct relationships for some account types.

How to know for sure: look at the issuer name at the top of your 1099-B PDF. If it says Apex Clearing Corp (or includes the phrase "issued by Apex Clearing"), you have an Apex-cleared account. If it says the broker's own name as the issuer (e.g., "Robinhood Securities, LLC"), the broker is self-clearing. The customer-facing broker name is also usually on the document somewhere, but the issuing entity is what determines the import path.

Where to Find Your Apex 1099-B

The PDF lives inside your front-end broker app, not on Apex's site directly (Apex doesn't have a consumer portal). The path varies by app:

• Webull: Menu → Tax Documents → select the tax year. The PDF includes "Apex Clearing Corp" as the issuer in the header.
• M1 Finance: Profile → Tax Documents → expand the year, click the 1099 PDF. For more on this path, see M1 Finance's 1099-B specifics.
• Public.com: Profile → Tax Documents → select year. Public has historically split documents across multiple PDFs; the Public.com 1099-B export guide covers what to expect.
• Stash: Account → Tax Documents.
• Betterment: Dashboard → Documents → Tax Forms.
• SoFi Invest: For older years cleared through Apex, see the SoFi Invest 1099-B walkthrough. Newer years may not be Apex.
• Acorns: Settings → Tax Reports.

If the document is not yet posted but you can see your account activity, the issue is timing — Apex typically posts consolidated 1099s between mid-February and early March, with corrected versions trickling out through April for any reclassified dividends or basis adjustments.

How to Import Your Apex 1099-B Into TurboTax

This is where most people go wrong, so the steps in order matter.

1. Pick "Apex Clearing Corporation" from the broker dropdown

In TurboTax: Federal → Wages & Income → Investment Income → Stocks, Cryptocurrency, Mutual Funds, Bonds, Other. The broker search field accepts partial matches. Type "Apex" and select Apex Clearing Corporation (sometimes shown as "Apex Clearing Corp"). Do not pick the front-end app name — that won't work for Apex-cleared accounts. If you have a Webull account cleared through Apex, the front-end "Webull" entry in the dropdown leads to a different import flow that may not pull your data.

2. Sign in with your Apex credentials, not your broker app credentials

This is the part that catches people. The Apex auto-import asks for your Apex Web account login — a separate set of credentials from your broker app login. Most users don't realize they have an Apex Web account.

To check: Apex sends every user a welcome email when their account is opened (it's required under FINRA rules — Apex is your actual broker-of-record). The email comes from [email protected] and includes a username and a password reset link. If you can't find the email, go to apexclearing.com → Apex Account Access → Forgot Password and enter the email you used when signing up for the front-end broker. Apex will send a password reset link.

If you've never logged into Apex Web before, you need to set up the account before TurboTax's auto-import will work. Allow 24 hours after creating the password — Apex's auto-import endpoint syncs separately.

3. Let the import run; verify the transaction count

Auto-import is usually fast when it works — under a minute. When it completes, check the imported transaction count against the totals on the 1099-B PDF. Apex's PDF has summary numbers at the top of the 1099-B section showing total proceeds and total cost basis. If those match what TurboTax pulled, you're done.

If the numbers don't match, the most common cause is that TurboTax didn't pull every account. Apex assigns separate account numbers for each front-end broker even if you use the same email — so if you have both Webull and M1 cleared through Apex, that's two Apex accounts. You may need to run the import twice with different account selections.

CSV and TXF Alternatives

If auto-import doesn't work — wrong credentials, account flagged for manual review, document not yet in Apex's import feed — you have two manual paths:

CSV upload: Apex doesn't directly provide a CSV download, but most front-end apps do. Webull, M1, and Public all export transaction CSVs from their respective Tax Documents pages. The CSV headers and column order vary by app, so expect to do some renaming before TurboTax accepts the file. The TaxAct CSV format guide covers the exact headers most consumer software wants.

TXF: Apex doesn't publish a TXF export. If you need TXF format (for TurboTax Desktop's accounting software import path), convert the 1099-B PDF directly through a PDF-to-CSV or TXF converter. This is also the fastest path when you have multiple Apex-cleared accounts to consolidate — one converter pass produces a single file you can import everywhere.

The PDF conversion path has a side benefit: it doesn't require setting up an Apex Web account or remembering separate credentials. You only need the PDF.

Wash Sales, Cost Basis, and the "Apex Quirk"

Apex's 1099-B format is consistent across all the front-end brokers it serves, which is convenient — once you've imported a Webull 1099-B successfully, you know exactly what an M1 1099-B will look like. But Apex has a few quirks worth knowing:

Wash sales are reported correctly but verbosely. Apex lists every wash sale event with code W in the adjustment column and the disallowed loss in its own column. They also list the replacement purchase row with the adjusted basis. The detail is correct but it can inflate your row count by 20-30% versus a broker that nets the adjustments into fewer rows.

Cost basis for transferred-in shares. If you transferred shares from another broker into your Apex-cleared account, Apex picks up the basis from the transferring broker's ACATS records. If the original broker didn't transfer complete basis (common for older lots), Apex marks the share as noncovered (Box B for short-term or Box E for long-term) and reports the proceeds but leaves cost basis blank. You'll need to fill in basis manually from your purchase records. The missing cost basis guide covers this exact case.

Crypto on Apex. Some Apex-cleared brokers (M1, Webull) offer crypto trading through Apex. For tax year 2026, crypto is reported separately from the equity 1099-B — Apex sends a separate 1099-DA (the new crypto-specific form) or a 1099-B with the crypto section flagged. Don't import crypto activity through the equity 1099-B path; it gets reported differently.

The "two Apex accounts" problem. If you opened a Webull account and a Public.com account independently, both backed by Apex, you have two Apex account numbers. Auto-import only pulls one at a time. You need to import each separately, or pull both PDFs and consolidate the data yourself before importing.

When the Apex Dropdown Doesn't Work — The PDF Fallback

There are times the Apex auto-import simply doesn't work:

• You can't access your Apex Web account (lost email, abandoned account).
• The clearing relationship changed mid-year (your broker moved from Apex to another clearer, or vice versa).
• Multiple Apex accounts that the importer won't consolidate.
• The 1099-B is corrected after you've already imported the original.

In any of these cases, the PDF-to-CSV path is the universal fallback. The Apex 1099-B PDF is well-formatted and tabular — extraction is reliable, the resulting CSV imports cleanly into TurboTax (Online or Desktop), TaxAct, H&R Block, and FreeTaxUSA without further reformatting. You can also use this path when the broker is Apex but the front-end app's Robinhood-style auto-import fails — same fix applies, just import as a generic CSV instead of through a broker dropdown.

FAQ

Why does TurboTax want "Apex Clearing" instead of my broker's name?

Because Apex is the entity that issued your 1099-B and filed the matching copy with the IRS. TurboTax's auto-import matches on the issuer's tax ID, which for Apex-cleared accounts is Apex's, not your front-end broker's. Picking the front-end broker name in the dropdown leads to a different import flow that may not work for cleared accounts.

Which neobrokers use Apex Clearing?

As of recent tax years: Webull, M1 Finance, Public.com, Stash, Betterment, Acorns, and historically SoFi Invest. Brokers that do NOT use Apex: Robinhood (self-cleared since 2018), Tastytrade (self-cleared), TradeStation (self-cleared), Cash App Investing (uses DriveWealth), Wealthfront (uses RBC), Fidelity, Schwab, Vanguard. Always confirm by checking the issuer name on your 1099-B PDF — clearing relationships change.

How do I create an Apex Web account?

If you have an Apex-cleared brokerage account, you already have an Apex Web account — you may just have never logged in. Go to apexclearing.com, click Apex Account Access, and use the "Forgot Password" link with the email you signed up for your front-end broker with. Apex will send a password reset link. Allow 24 hours after setting the password before trying TurboTax's auto-import — the systems sync separately.

My 1099-B says "issued by Apex Clearing" but my front-end broker is Robinhood. Why?

This is an older Robinhood account — Robinhood used Apex as its clearing firm until late 2018. If you opened your Robinhood account before then and held positions across the switch, you may have legacy lots still on Apex's books. Recent Robinhood activity is on Robinhood Securities, not Apex. You may need to import both: Apex for the older lots, Robinhood Securities for the newer ones.

Can I import all my Apex-cleared brokers in one shot?

Sort of. The Apex auto-import pulls from your Apex Web account, which sees all your Apex accounts in one place. If TurboTax pulls everything, great. If it only pulls one account, you can repeat the auto-import process and select a different account, or fall back to converting each broker's PDF separately and uploading the consolidated CSV.

What if I get a corrected 1099-B from Apex?

Apex sends corrected 1099-Bs marked "CORRECTED" at the top of the PDF. The corrected version supersedes the original. If you've already filed using the original, you may need to file an amended return (Form 1040-X) for any material change. If you haven't filed yet, just delete the imported data in TurboTax and re-import using the corrected PDF.

Do I report Apex crypto trades on the same 1099-B as my stocks?

No. Crypto is reported on a separate form (1099-DA starting in tax year 2026, or as a separate section of a multi-purpose 1099 in prior years). Don't mix crypto rows into your equity 1099-B import — they go through a different TurboTax flow. The 1099-DA crypto guide covers the new form and which brokers issue it.

Why does my 1099-B from Webull say "Apex" but the auto-import says "Webull"?

Webull's auto-import endpoint is separate from Apex's. TurboTax's "Webull" entry talks to Webull's app API and may or may not pull complete data depending on how Webull's tax-document feed is wired up. The "Apex Clearing" entry goes directly to the issuing clearer and tends to be more reliable for older accounts or accounts with corrections. If Webull's auto-import returns partial data, try Apex instead.

Bottom Line

Apex Clearing is the back-end behind a long list of consumer brokerages — Webull, M1 Finance, Public, Stash, Betterment, Acorns, and others. Your 1099-B comes from Apex, the IRS gets its copy from Apex, and the cleanest import path is to pick Apex Clearing Corporation in the TurboTax broker dropdown and sign in with your Apex Web credentials. This catches most people the first time because they're looking for the broker app's name and not the clearing firm.

When auto-import doesn't work — whether because of credentials, account splits, or corrections — the universal fallback is converting the Apex 1099-B PDF directly to a CSV and uploading it as a generic import. The PDF format is consistent across all Apex-cleared brokers, so once you've solved this for one account, you've solved it for all of them.

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Webull, M1, Public, SoFi, Stash — all clear through Apex, all the same import puzzle? Convert your 1099-B free — drop in any Apex PDF, get a TurboTax-ready CSV in seconds. No Apex Web login required.