Form 1099-B

Form 1099-B is a tax form used to report proceeds from certain brokering transactions. This document is completed and sent in along with the traditional yearly federal tax documents. Known as a Proceeds from Broker and Barter Exchange Transactions form, it is used to estimate yearly earnings and deductions involved in certain activities, such as the sale of stocks and bonds. The information in this form may also be used to determine the amount of money that should be withheld as taxes as well as for refunds.

What is a 1099-B?

This form will be used for tax filing purposes by the Internal Revenue Service in the United States. The Form 1099-B is also known as a Proceeds from Broker and Barter Exchange Transactions form. It is used to report the proceeds from these types of transactions on the yearly tax return forms. This form is required in order to provide an accurate estimate of your yearly earnings and deductions.
The form will require information about the specific transaction. This includes the date of the sale or exchange, the date of the acquisition, the type of sale, and the quantity sold. The amount from each sale must be included, whether it is from stocks or bonds. Then more financial information will be needed, such as the tax withheld, profits and losses, bartering earnings, and more. This information will be used to determine tax withholdings or refunds.

Most Common Uses

The IRS requires the submission of Form 1099-B to record a taxpayer’s gains or losses associated with the brokered sale or trade of certain securities.  Brokers submit this form for each person who sold stocks, options, commodities, or similar trading vehicles.  This form is also used to report barter exchange transactions.

Components of a 1099-B

A Form 1099-B contains the following sections:

  • Payer’s information
  • Recipient’s information
  • Description of property
  • Financial details of transaction

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Sample Form 1099-B


Sample Form 1099-B

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