Get Proceeds From Broker And Barter Exchange Transactions - Irs - Irs

This guide provides clear and detailed instructions for users filling out the Proceeds From Broker And Barter Exchange Transactions form, also known as Form 1099-B. Whether you are a new user or have prior experience, this guide will help you navigate the online submission process effectively.

Follow the steps to complete the form accurately.

1. Click ‘Get Form’ button to obtain the form and open it for editing.
2. Enter the payer’s name, street address, city, state, and ZIP code in the designated fields.
3. Fill in the date of sale in MMDDYY format in Box 1a. If applicable, provide the CUSIP number in Box 1b.
4. Record the proceeds from transactions involving stocks, bonds, or other securities in Box 2, indicating whether gross proceeds or gross proceeds less commissions are reported to the IRS.
5. Indicate any bartering income in Box 3 by reporting the fair market value of trade credits or cash received.
6. List any federal income tax withheld in Box 4, specifying the amount withheld.
7. Provide a brief description of the reported item or service in Box 5.
8. Enter the profit or loss realized during the year in Box 6.
9. If applicable, fill in year-end adjustments for contracts in Box 7 and report unrealized profit or loss in Box 8.
10. Calculate aggregate profit or loss in Box 9 and ensure all financial information is accurate.
11. After completing the form, save your changes. Next, download and print your form for your records.
12. If necessary, share the completed form with relevant parties, ensuring compliance with submission requirements.

Start completing your documents online today!