Tax Form 1099 B Reporting Instructions

Instructions and help about Tax Form 1099 B Reporting Instructions

let's talk about tax forms should be fun right okay so this is the time of the year where you get all these tax forms like a w2 1099 are a k1 a 298 a 235 and forums and poems and forums where you're overwhelmed I can't see myself wait a minute oh there you are if you are a do-it-yourselfer with your tax returns you could be overlooking something really really important that could cost you a lot of money a lot of time and a lot of stress and you've got to focus on this one thing you had my curiosity but now you have my attention all right so what I'm talking about is the 1099 - B form now on this form it reports all the gross proceeds of the cells of securities that you or your adviser made and by the way this is for non retirement accounts throughout the year but also on this form it reports the cost basis cost basis is what you actually paid for those securities now a lot of people are reluctant very very important if you don't report the gain or the loss the IRS has no way of knowing