Form 1099-B Proceeds Form Broker and Barter Exchange Transactions reports proceeds from securities transactions including sales of stocks, bonds, short sales, redemptions, tenders and bond maturities. Additionally, profit and loss from futures is also reported on Form 1099-B.
Form 1099-B reporting is made up of four separate forms:
- Covered securities with short-term gains or losses,
- Covered securities with long-term gains or losses, and
- Uncovered securities.
- Section 1256 transactions.
All of the 1099-B forms contain the same boxes, however not all of the boxes are used on every form.
- Box 1b reports the date the security was acquired. For short sales the date of acquisition of the security used to cover the short position is reported. Box 1b will be blank for noncovered securities.
- Box 1c reports the date of sale or exchange for the security. For short sales the date shown is the date the security was delivered to close the short sale.
- Box 1d reports gross proceeds, less commissions and fees, of sales and short sales of stocks and bonds, other debt obligations, commodities, forward contracts, mutual funds and other securities. This amount may also be adjusted for certain related options positions.
- Box 1e reports cost or other basis of securities sold. This basis may be adjusted for wash sales, related options positions, and corporate actions. Box 1e is not used for reporting sales of uncovered securities as cost basis is not reported for these sales.
- Box 2 indicates whether the gain or loss is long-term or short-term.
- Box 3 will be, checked for covered securities.
- Box 4 is the amount of federal income tax withheld from the sale proceeds, if any.
- Box 5 will be checked for non-covered securities.
- If Box 7 is checked the any loss from a change in control or other capital change cannot be taken on your tax return. Please consult your tax advisor if this box checked
- Boxes 8,9,10 and 11 is the aggregate profit or loss of lines 8, 9, and 10 on regulated futures contracts (and options on futures contracts) commonly referred to as Section 1256 transaction for the year. Refer to Form 6781 and Instructions for guidance on how to report these boxes.
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Additional Information
- Form 1099-B on our website.