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Although a broker or barter exchange may report several types of transactions in one year, not every sale or exchange is reportable on Form 1099-B, and the required details may vary by transaction type. So, it is important to review the transactions before filing.
This guide explains Form 1099-B reporting requirements and the types of information it covers. You’ll also read about what transactions are reportable and who must file the form.
The IRS information return used by brokers and barter exchanges to report sales, exchanges, and some other types of transactions to the recipient and to the IRS is Form 1099-B.
It is important because the IRS uses the form to compare proceeds, basis, and other transaction details against what taxpayers report on their tax returns, including Form 8949 and Schedule D when applicable. When those details are wrong, corrections and IRS mismatch notices can follow.
Form 1099-B filing requirements apply broadly. Brokers and barter exchanges generally must file the form for each customer whose transactions involved sales for cash of any of these things:
The form is also used when a person receives cash, stock, or other property from certain reportable corporate changes, or exchanges property or services through a barter exchange. These generally include brokers and barter exchanges.
In some situations, reporting also applies to reportable corporate changes and dispositions of qualified opportunity fund interests. The basic rule to keep in mind is as follows: the broker or barter exchange that handles the reportable transaction is usually the filer.
To reiterate, Form 1099-B covers more than stock sales. Reportable transactions may include sales or redemptions of securities, commodities, regulated futures contracts, certain foreign currency contracts, forward contracts, debt instruments, options, securities futures contracts, or barter exchange transactions.
Certain reportable corporate changes and dispositions of qualified opportunity fund interests can also trigger reporting requirements.
Note: For sales of digital assets after 2025, brokers generally use Form 1099-DA, not Form 1099-B, except in limited cases such as certain section 1256 contracts. That means using Form 1099-B for digital asset sales after 2025 can be a filing error in many cases.
The main difference between covered and noncovered securities affects basis reporting. Covered securities are securities for which the broker is required to report cost basis to the IRS, while noncovered securities may still be reported on Form 1099-B, but brokers generally do not have to report basis to the IRS.
In some cases, basis may be shown to the recipient but not reported to the IRS. This changes three things, namely:
The IRS instructions also state that separate Forms 1099-B may be required when covered short-term, covered long-term, and noncovered securities are sold in a single transaction.
For covered securities, brokers generally report the core transaction data listed below. For noncovered securities, reporting may be more limited.
The IRS instructions also tie basis reporting to Form 8949 checkboxes and Form 1099-B box treatment. For example, Form 8949 box A or D generally means the basis is being reported to the IRS, while box B or E means it is not. Box 12 is checked when the basis is reported to the IRS. These 1099-B basis reporting rules are one reason that covered and noncovered classification must be reviewed before filing.
The Form 1099-B due date follows a special schedule.
Under current IRS instructions, recipient statements are due by February 15, if February 15 is a business day. The IRS copy is generally due by February 28 if filed on paper, or March 31 if filed electronically.
For 2026 returns filed in 2027, the recipient statement deadline moves to February 16, 2027, because February 15 is Washington’s Birthday, a legal holiday.
The paper filing deadline moves to March 1, 2027, because February 28 falls on a Sunday.
However, the electronic filing deadline remains March 31, 2027.
When a filing or furnishing deadline falls on a Saturday, Sunday, or legal holiday, the due date moves to the next business day.
Electronic filing is generally required when a filer has 10 or more information returns in total across all return types. For tax year 2026 and filing season 2027, IRIS will be the IRS intake system for these information returns after FIRE is retired.
1099-B reporting requirements are not too complicated to follow. But it’s important to keep in mind that not every transaction has to be reported. The IRS instructions list some important exceptions. These include:
These exceptions matter because they help filers avoid unnecessary returns and reduce extra work. They also show why a filing review should happen before bulk submission, not after.
To follow Form 1099-B instructions accurately, you can follow a clean process that more or less follows the same sequence each year: collect transaction data, identify reportable transactions, classify them correctly, determine covered or noncovered status, populate the required fields, review for missing or inconsistent details, then file with the IRS and furnish recipient copies.
Form 1099-B filing can involve many moving parts, especially when a filer has a large number of transactions to report. Each transaction may need to be reviewed for the type of sale or exchange, whether the security is covered or noncovered, whether basis must be reported, and which fields must be completed before filing.
Tax1099 helps make the entire process much more manageable by supporting bulk imports, data checks, TIN matching, USPS address validation, eFiling, scheduling, and organized recordkeeping for 1099 forms. This is useful for filers who need to handle multiple Forms 1099-B without relying only on manual entry.
Instead of preparing each return one by one, filers can upload larger sets of transaction data, review key details, and map the information to the right reporting fields. Built-in checks can also help catch missing or inconsistent information before submission.
Tax1099 also helps with the steps that come after preparation. For instance:
All of these factors can significantly reduce manual work, improve consistency and accuracy, and make the overall filing process smoother.
Brokers and barter exchanges that are responsible for reportable transactions are typically required to file Form 1099-B.
Yes. A transaction can still be reportable even if it results in a loss.
It means the broker reported the cost or other basis to the IRS, which is generally required for covered securities.
For 2026 Form 1099-B, recipient statements are due February 16, 2027; paper IRS filing is due March 1, 2027; and electronic IRS filing is due March 31, 2027.
In most cases, no. One exception is that brokers do not have to report sales of fractional shares of stock if gross proceeds are less than $20.
Usually, transactions are reported one by one. However, certain regulated futures contracts, foreign currency contracts, and section 1256 option contracts can be reported together on an aggregate basis.
File Form 1099-B with Tax1099 and make IRS reporting easier with data checks, bulk workflows, and organized records. Start now
File Form 1099-B with Tax1099 and make IRS reporting easier with data checks, bulk workflows, and organized records.