Form 1099-B - Broker transactions reporting for 2014 

The IRS posted final versions of Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, and the related instructions for 2014

Read Form 1099-B [PDF 208 KB] and the instructions [PDF 219 KB].

New reporting requirements

The new Form 1099B and instructions reflect that:

  • Brokers must report the adjusted basis of certain debt instruments upon a sale of the debt instrument.
  • Brokers must 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 must report whether any gain or loss from these transactions is short-term, long-term, or ordinary.
  • Brokers must report with respect to 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.

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