This article was updated for Tax Year 2023, last edited on December 18th, 2023.
A Form 1099-B is for proceeds from broker and barter exchange transactions. It is possible that you may receive a consolidated 1099 form from your bank. A consolidated Form 1099 may combine up to five separate 1099 forms (1099-B, 1099-DIV, 1099-INT, 1099-MISC, and 1099-OID) into one tax reporting document and will show your reportable income and transactions for the tax year from the issuer.
Per the IRS, a 1099-B can include the following:
Sales where the broker and barter exchange sold stocks, commodities, regulated futures contracts, foreign currency contracts, forward contracts, debt instruments, options, securities futures contracts, etc., for cash.
Sales where the individual received cash, stock, or other property from a corporation that the broker knows or has reason to know has had its stock acquired in an acquisition of control.
Where an individual exchanged property or services through a barter exchange.
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