Form 1099-B

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Form 1099-B Page 1
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Updated Jan 17, 2025
~ 7 pages
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Brokers or barter exchanges issue the form 1099-B to report the sale of stocks, bonds, commodities, or other securities, as well as certain barter transactions. This form provides essential details like the proceeds from the sale and any associated gains or losses. Download this 1099-B form in PDF and follow the guidelines below to complete it accurately and confidently.
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Document Types
Form 1099
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Form 1099-A
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Form 1099-C
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Form 1099-CAP
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Form 1099-DIV
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Form 1099-G
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Form 1099-H
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Form 1099-INT
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Form 1099-K
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Form 1099-LS
This form reports the transfer or acquisition of a life insurance contract.
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Form 1099-LTC
This form reports long-term care and accelerated death benefit payments.
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Form 1099-MISC
This form reports an income that is not classified as wages, salaries, or tips.
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Form 1099-NEC
This form reports payments to independent contractors or self-employed individuals.
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Form 1099-OID
This form reports OID income from financial instruments like bonds or notes.
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Form 1099-PATR
This form is used to report taxable distributions or patronage dividends from cooperatives.
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Form 1099-Q
This form reports distributions from education savings programs to the IRS and recipients.
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Form 1099-QA
This form documents distributions from ABLE accounts for tax and eligibility purposes.
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Form 1099-R
This form is used to report retirement and pension distributions to the IRS and recipients.
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Form 1099-S
This form is used to report real estate transaction proceeds.
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Form 1099-SA
This form is used to report distributions from health or medical savings accounts.
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Form 1099-SB
This form is used to report life insurance policy transfers to the IRS and recipients.
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1099-b

As you navigate through the labyrinth of the U.S. tax system, understanding each IRS form's role becomes crucial. One such form, 1099-B (also known as proceeds from broker and barter exchange transactions), plays a key role. It provides a record of the sale of stocks, bonds, commodities, or other assets handled by a broker during the tax year, helping calculate and report any resulting profits or losses.

Who Needs To File 1099 B Form?

Form 1099-B is typically filed by brokers or barter exchanges that have transacted the sale of a variety of assets, including stocks, bonds, commodities, regulated futures contracts, foreign currency contracts, forward contracts, debt instruments, options, etc., for a customer during a tax year.

Additionally, 1099 B should be filed by any entity that has received cash, stock, or other property from a corporation that has undergone significant changes, such as acquisition of control or capital restructuring.

When Is 1099-B Form Due?

Form 1099 B doesn't have a specific due date. But usually, brokers need to give this form to both the IRS and the person who sold the asset by February 15th of the year after the sale happened.

Breaking Down IRS 1099-B

  • Payer's Information. This includes important details about the broker or barter exchange, like their name, address, phone number, and federal ID number.
  • Recipient’s Information. Here, details about the customer, including the name, address, and customer account number, are provided.
  • Various Input Boxes. These capture the details about the transactions, including the description of the sold item, acquisition date, sale date, proceeds received, cost or other basis, and the type of gain or loss incurred.

How To Complete 1099‑B Form

Filling the tax document can be made effortless by following the 1099-B instructions:

1. Acquire the Form. The IRS form 1099-B can be conveniently downloaded from the official IRS website or Lawrina platform.

2. Enter Details in the 1099-B Form 2025.

   • Box 1a. Briefly describe the item or property sold.

   • Box 1b. Input the date when the asset was first acquired.

   • Box 1c. Specify the date when the asset was sold.

   • Box 1d. Mention the proceeds from the sale obtained. You can find a 1099 B example to make the process of filling the document.

   • Box 1e. State the cost or other basis.

   • Boxes 2-18. Provide other details related to the sale, such as federal income tax withheld, wash sale loss disallowed, or non-deductible loss in a wash sale for the same stock or securities.

1099 B tax form, although initially complex, can be simplified by understanding its components and knowing how and when to use it. Whether you're a broker filing on behalf of a customer or a recipient trying to make sense of it all, this crucial 1099-B example ensures you can accurately account for gains or losses from sales of financial assets.