Question

A taxpayer brings in a Form 1099-B showing the net proceeds from the sale of non-covered shares during 2019. What are all of the other items you need to know to report the transaction?

A. The date(s) the asset was acquired and the asset basis on the sale date.
B. Whether the taxpayer sold other shares of stock or mutual funds in 2019.
C. The basis of the asset on the sale date.
D. The purchase price paid for the securities.

Answer 1

Answer :

If one sell stocks, bonds, derivatives or other securities through a broker, you can expect to receive one or more copies of Form 1099-B in January. This form is used to report gains or losses from such transactions in the preceding year.

A. The date(s) the asset was acquired and the asset basis on the sale date is the correct option.

NOTE :

Copy A of this form is provided for informational purposes only. Copy A appears in red, similar to the official IRS form. The official printed version of Copy A of this IRS form is scannable, but the online version of it, printed from this website, is not.