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Filing Resources ยป 1099-B

1099-B

Proceeds from Broker and Barter Exchange Transactions

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Form 1099-B
1099-B At a Glance

Who: Brokers and other financial institutions

When: 1099-B forms must be mailed to recipients by February 15, and e-filed with the IRS by March 31 each year.

Where: To the IRS

Why: To report the proceeds from brokered or bartered transactions.

What You Need to Know About Form 1099-B

The 1099-B is used to report the proceeds from brokered or bartered transactions. Instead of a monetary payment, an exchange of something else took place, the value of which was accepted as payment for the goods or services provided.

Applicable businesses: Brokers, obligors who regularly issue and retire their own debt obligations, corporations that regularly redeem their own stock, barter exchanges and other financial institutions.

When to file: 1099-B forms must be mailed to recipients by February 15, and e-filed with the IRS by March 31 each year.

The 1099-B should be filed for each person for whom the broker has sold:

The 1099-B should also be filed for a person who has received cash, stock or other property from a corporation that the broker knows (or has reason to know) has had its stock acquired or had a substantial change in capital structure (report on Form 8806).

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