Instructions for IRS Form 1099-B Proceeds From Broker and Barter Exchange Transactions

IRS Form 1099-B Proceeds From Broker and Barter Exchange Transactions

This document contains official instructions for IRS Form 1099-B , Proceeds From Broker and Barter Exchange Transactions - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 1099-B is available for download through this link.

FAQ

Q: What is IRS Form 1099-B?
A: IRS Form 1099-B is a tax form used to report proceeds from broker and barter exchange transactions.

Q: Who needs to file IRS Form 1099-B?
A: Brokers and barter exchanges need to file IRS Form 1099-B to report certain financial transactions.

Q: What transactions need to be reported on IRS Form 1099-B?
A: Transactions such as the sale of stocks, bonds, and mutual funds, as well as barter exchanges, need to be reported on IRS Form 1099-B.

Q: When is the deadline to file IRS Form 1099-B?
A: The deadline to file IRS Form 1099-B is usually January 31st of the year following the calendar year of the transaction.

Q: What happens if I don't file IRS Form 1099-B?
A: Failure to file IRS Form 1099-B or reporting incorrect information may result in penalties and fines.