Form detail
IRS Form 1099-B
Proceeds From Broker and Barter Exchange Transactions
Country
United States
Revision year
2024
Methods
paper, efile
Updated
2026-05-20
Proceeds From Broker and Barter Exchange Transactions
Information return used by brokers and barter exchanges to report gross proceeds, cost basis, and gain/loss on sales of securities, regulated futures contracts, and certain digital assets.
Who must file: Brokers, barter exchanges, and (under regulations issued for tax years beginning in 2025 and later) certain digital asset brokers that effected the sale of securities or property for a customer.
Practical overview
1099-B reconciliation drives a large share of return-preparation pain because basis reported to the IRS may differ from the taxpayer's actual basis, and wash-sale adjustments can be incomplete or wrong. Taxpayers must reconcile every reported lot against Schedule D and Form 8949 and explicitly adjust for missing or incorrect basis.
Practical steps
- Determine whether each transaction is short-term or long-term and whether basis was reported to the IRS.
- Reconcile each broker 1099-B to brokerage statements and to your own basis records (especially for transferred lots).
- Report transactions on Form 8949, applying codes for wash sales, basis adjustments, and noncovered securities.
- Carry totals to Schedule D and the appropriate line of Form 1040 or business return.
Due-date notes
Furnish Copy B to recipient.
Timing: February 15
File Copy A with IRS on paper.
Timing: February 28
Extension reference: Form 8809
File Copy A with IRS electronically.
Timing: March 31
Extension reference: Form 8809
Penalty snapshot
Information return penalties under IRC §§ 6721 and 6722, inflation-adjusted annually.
Related citations
Computed from the cross-reference graph. Links open the related entity on this site.
This entry cites
Cited by
Primary sources
- About Form 1099-BVerified 2026-05-20
- Instructions for Form 1099-BVerified 2026-05-20
Important disclaimer
This library is for general tax education only. Always verify filing obligations, due dates, and tax consequences against the cited primary source or with a qualified tax professional.