Instructions for Form 1099-B - Introductory Material


Future Developments

For the latest information about developments related to Form 1099-B and its instructions, such as legislation enacted after they were published, go to www.irs.gov/form1099b.

What's New

Form 1099-B redesign.   For 2014, the form has been redesigned to conform to the box numbers to the Form 8949. Also, a new box has been added at the top center of the form. This box is used to enter a code that will assist the recipient in reporting the transaction on Form 8949 and/or Schedule D. See Applicable Check Box on Form 8949, later, for details.

New reporting requirements.   Brokers are required to report the adjusted basis of certain debt instruments upon a sale of the debt instrument. In addition, brokers are required to report the adjusted basis of certain securities futures contracts and options upon a sale or closing transaction as well as the gross proceeds from the sale or closing transaction. Brokers also must report whether any gain or loss from these transactions is short-term, long-term, or ordinary. Furthermore, there are reporting requirements for a transfer of a debt instrument, an option, or a securities futures contract to another broker and for an organizational action that affects the basis of a debt instrument, an option, or a securities futures contract. See TD 9616 for details.

Reminder

In addition to these specific instructions, you should also use the 2014 General Instructions for Certain Information Returns. Those general instructions include information about the following topics.

  • Who must file (nominee/middleman).

  • When and where to file.

  • Electronic reporting requirements.

  • Corrected and void returns.

  • Statements to recipients.

  • Taxpayer identification numbers.

  • Backup withholding.

  • Penalties.

  • Other general topics.

You can get the general instructions from www.irs.gov/form1099b or by calling 1-800-TAX-FORM (1-800-829-3676).


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