What is Form 1099-B?
Form 1099-B is useful for reporting and calculating capital gains, as well as whether those gains are long-term or short-term in nature (this affects the taxability of the ). Brokerage firms must send the forms to taxpayers by January 31 of each .that apply to . For instance, the form disclose the proceeds of the and how much of those proceeds are
How Does Form 1099-B Work?
Let's say John Doe sells 1,000 tax return at the end of the .of Company XYZ out of his Charles Schwab account. The brokerage firm gives him (and the ) a Form 1099-B, which shows what was sold and the proceeds from the transaction. John uses this form when he files his