It is the Most Common 1099 Form
What is a 1099-B Form?
The 1099-B form is used for the reporting of proceeds from brokered or bartered transactions.
Who Should File the 1099-B Form?
Brokers and financial institutions are required to file a 1099-B form.
Why is it Important to File?
1099-B forms must be filed to provide a report of the proceeds from brokered or bartered transactions.
When Should it be Filed?
Where Should it be Filed?
The 1099-B form is intended to provide a report of the proceeds coming from brokered or bartered transactions, wherein payment for the goods or services provided did not involve a certain amount of money, instead an exchange of something else occurred.
1099-B Forms Apply to the Following Businesses:
(Those who regularly issue and retire their own debt obligations)
(Those who claim their own stock, regularly)