Form 1099-B is used to report capital gains and losses that a taxpayer incurs after selling certain assets through brokerages and barter exchanges.<\/span> These firms send separate forms for each transaction to both the IRS and the investor.<\/span><\/p>"
}
}
,
{
"@type": "Question",
"name": "How Do You Report 1099-B on Your Tax Return?",
"acceptedAnswer": {
"@type": "Answer",
"text": " You must report the information found on Form 1099-B on Schedule D and/or Form 8949 as capital gains or losses.<\/p>"
}
}
,
{
"@type": "Question",
"name": "How Do You Read Form 1099-B?",
"acceptedAnswer": {
"@type": "Answer",
"text": " Issuers include their information and yours on Form 1099-B. It also includes a description of the property sold, the acquisition date, the sale date and price, the original price, and any deductions that apply. Other information includes any federal tax withheld, gains or losses incurred, and state tax withholdings.<\/span><\/p>"
}
}
,
{
"@type": "Question",
"name": "Do I Have to Report 1099-B on My Taxes?",
"acceptedAnswer": {
"@type": "Answer",
"text": " While you don't send the actual Form 1099-B to the IRS with your tax return, you must include the information that's on it on Form 8949 and send that along with Schedule D, which is what you'll use to record your totals for all transactions shown on Form 8949.<\/p>"
}
}
,
{
"@type": "Question",
"name": "Is 1099-B Earned Income?",
"acceptedAnswer": {
"@type": "Answer",
"text": " No. 1099-B reports capital gains and losses. A capital gain or loss results from selling an asset you own, such as a stock, stock option, or bond. Earned income is income you receive from your employment.<\/p>"
}
}
]
} ] }
]