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A 1099-B is an informational document brokers send to people who have sold securities, such as stocks or bonds, through a brokerage during the year. It outlines which securities were sold and...
How is Form 1099-B used? The 1099-B form assists you in reporting capital gains and losses on your tax return. If you sell something for more money than it costs to acquire, the earnings are typically considered a taxable capital gain.
Specific Instructions. A broker or barter exchange must file Form 1099-B for each person: For whom the broker has sold (including short sales) stocks, commodities, regulated futures contracts, foreign currency contracts (pursuant to a forward contract or regulated futures contract), forward contracts, debt instruments, options, securities ...
Form 1099-B is used to report gains or losses from selling stocks, bonds, derivatives, or other securities through a broker, and for barter exchange transactions. The form contains details like the description of the item sold, purchase and sale dates, acquisition cost, sale proceeds, and any federal tax withheld by the broker.
Form 1099-B, Proceeds From Broker and Barter Exchange Transactions is an Internal Revenue Service (IRS) tax form used by brokerages and barter exchanges to record customers' gains and losses...
What is Form 1099-B? Form 1099-B is used to report property sales initiated and closed through a broker or other exchange system. For most taxpayers, Form 1099-B is used to report the sale of securities such as stocks, bonds, and mutual funds.
Form 1099-B is a tax document that reports proceeds from broker and barter exchange transactions. It provides detailed information about the sale of stocks, bonds, mutual funds, and other securities, including: Date of the purchase. Date of the sale. Description of the item sold. Total proceeds. If your broker withheld any federal tax.