1099 B

(redirected from Form 1099B)

1099 B

The tax statement used for reporting proceeds resulting from the sale, redemption or liquidation of shares.

1099 B

A form stating a taxpayer's capital gains and losses from security trades. A broker provides each client with a 1099 B form by January 31 each year; the client then uses this to report capital gains and losses from the sale of securities when filling out his/her 1040 to calculate his/her tax liability.
References in periodicals archive ?
It is recommended that a taxpayer report the proceeds on Schedule D, to match the amount reported on Form 1099B and avoid IRS audit.
According to the Tax Equity Act of 1982, barter income has to be reported to the government annually, using Form 1099B.
During the program Curt Freeman, IRS Senior Technical Advisor, Tax Forms and Publications and Sam Perdue, IRS Business Implementation Director, Information Reporting and Document Matching (IRDM) Project, will discuss new Form 1099B and new basis reporting requirement starting in 2011.