Form 1099-B: Who Qualifies and What You Get
Learn how Form 1099-B reports your investment gains and losses to help you file your taxes accurately.
Form 1099-B is an official document used to report the details of your investment transactions to the government.
Who it's for
This form is for investors who have sold securities, such as stocks or bonds.
What you get
You receive this form as an official record of your capital gains and losses. A capital gain is the profit you make when you sell something for more than you paid for it, while a loss occurs when you sell for less than the purchase price.
What it costs you
There is no cost to receive this document. It is provided to you by your brokerage firm.
The catch to know
Be aware of "wash sale" rules. If you sell a stock at a loss but then buy that same stock back within 30 days, the government may disallow you from using that loss to reduce your taxes.
How to apply
- Monitor your investment activity through your brokerage account.
- Wait for your brokerage to generate and send the document (usually at the start of the tax year).
- Use the information provided in the form to file your taxes.
- For more details, visit the official portal: https://www.irs.gov/forms-pubs/about-form-1099-b