what is a 1099 b form used for

what is a 1099 b form used for

OVERVIEW

For those who promote shares, bonds, derivatives or different securities by way of a dealer, you’ll be able to count on to obtain a number of copies of Type 1099-B in January. This manner is used to report good points or losses from such transactions within the previous yr. Individuals who take part in formal bartering networks could get a replica of the shape, too.

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Info on the 1099-B

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Normally, a 1099-B type supplies details about securities or property concerned in a transaction dealt with by a dealer.

This contains:

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  • A quick description of the merchandise bought, resembling “100 shares of XYZ Co”
  • The date you purchased or acquired it
  • The date you bought it
  • How a lot it value you to accumulate it
  • How a lot you obtained for it if you bought it
  • Whether or not your dealer withheld any federal tax

How Type 1099-B is used