What is the 1099-B?

If you’ve sold any stocks, bonds, mutual funds, or securities during the tax year, it will be reported on a -B which you will receive from your broker or financial institution. It can be a separate form, or may be combined into a statement listing other relevant tax information, such as interest and dividends.

Each sale is reported on its own -B. If you receive a combined statement, multiple sales may be listed, with each line representing a sale.

Rules have recently been revised regarding the reporting of such sales. Agents must report the date of acquisition and the cost basis for each individual sale. Cost basis is typically listed as the original price of the stock, bond, property or asset including the purchase price and associated costs. Thanks to the new regulations, the IRS will be able to confirm that accurate amounts and the correct dates are reported. It’s important to always verify accuracy of all tax forms before filing.