What is a 1099-B form for?

A 1099-B reports the proceeds and cost basis from selling investments like stocks, bonds, options, and crypto through a broker. You use it to fill out Form 8949 and Schedule D, where you calculate your capital gains or losses and the tax owed on them for the year.

Do I have to report a 1099-B on my taxes?

Yes. You report every 1099-B transaction on Form 8949 and Schedule D, even if you had a loss. Reporting losses can actually lower your tax bill by offsetting gains, and up to $3,000 of net capital loss can offset ordinary income, with the rest carried forward to future years.

What is the difference between a 1099 and a 1099-B?

"1099" is a family of IRS information returns; the letter tells you what's reported. A 1099-B reports proceeds from selling investments, used to figure capital gains. A 1099-DIV reports dividends, a 1099-INT reports interest, and a 1099-NEC reports contractor pay. Brokers often bundle the -B, -DIV, and -INT into one consolidated 1099.

Who fills out Form 1099-B?

Your broker or barter exchange fills out the 1099-B, not you. They file a copy with the IRS and send you one for each taxable account where you sold or exchanged securities. You don't complete the form itself; you transfer its figures onto your own Form 8949 and Schedule D when you file.

What if my 1099-B is missing cost basis?

Some 1099-B transactions are marked 'noncovered,' meaning the broker didn't track or report your cost basis. You're still responsible for reporting it. Use your own purchase records or brokerage statements to determine basis. Without it, the IRS may treat your entire proceeds as gain, so keep original buy confirmations.

When should I receive my 1099-B?

Brokers must furnish Form 1099-B by February 15 of the year following the tax year, later than the January 31 deadline for many other 1099s. Brokers also issue corrected 1099-Bs fairly often, so it's worth confirming you have the final version before filing your return.

Tax

Form 1099-B

Form 1099-B is an IRS information return titled "Proceeds From Broker and Barter Exchange Transactions." Brokerages issue it to report sales of stocks, bonds, options, mutual funds, and crypto. It lists the proceeds, cost basis, and whether each gain or loss is short-term or long-term, which you use to calculate capital gains tax.

Brokers must furnish Form 1099-B to recipients by February 15 of the year following the tax year — two weeks later than the January 31 deadline that applies to many other 1099 forms.

Source: IRS — Instructions for Form 1099-B (2026)

Written & maintained by the Granite team · Last updated June 2026

Overview

Form 1099-B is issued by brokers, barter exchanges, and many investment platforms to every customer who sold or exchanged securities in a taxable account during the tax year. It reports the gross proceeds from each sale (Box 1d), the cost or other basis (Box 1e), the acquisition and sale dates, and whether the transaction is short-term or long-term. You use these figures to complete Form 8949 and Schedule D on your tax return.

It is distinct from other 1099s: a 1099-DIV reports dividends, a 1099-INT reports interest, and a 1099-K reports payment-network activity. A 1099-B is specifically about the disposal of investments. Many brokers fold it into a single "consolidated 1099" packet alongside your 1099-DIV and 1099-INT, but the 1099-B section is the part that drives your capital gains calculation. You won't receive one for sales inside an IRA, 401(k), or other tax-advantaged account.

When you’ll get your Form 1099-B

You sold stocks, bonds, ETFs, or mutual fund shares through a brokerage during the year
You sold or exchanged cryptocurrency on an exchange that reports to the IRS
You exercised or closed options contracts
You participated in a barter exchange
A fund redeemed or exchanged shares on your behalf, even without an explicit sell order
Your broker reported a return of capital or other reportable transaction on your account

What’s on your Form 1099-B

These are the fields Granite reads and extracts automatically the moment you upload one.

Payer / broker name: The brokerage or exchange that executed the trades and issued the form.
Payer's TIN: The broker's federal tax ID number (often shown as XX-XXXXXXX).
Recipient name: The account holder the proceeds are reported under, as printed on the form.
Recipient's TIN/SSN: Your Social Security or taxpayer ID number, usually masked to the last four digits.
Total proceeds (Box 1d): The gross amount you received from sales across all transactions on the form.
Total cost basis (Box 1e): What you originally paid for the securities sold; proceeds minus basis is your gain or loss.
Federal income tax withheld (Box 4): Any tax the broker withheld from your proceeds, usually due to backup withholding.
Account number: The brokerage account the transactions belong to, commonly masked on the form.

How long to keep it

At least 7 years, and keep cost-basis records until you sell the related holding plus 7 more years.

The 1099-B feeds your Form 8949 and Schedule D, and the IRS can audit capital gains for 6 years if income was substantially understated. The bigger trap is cost basis: for shares held a long time or bought in pieces, you need the original purchase records to prove your gain, so the supporting documents can outlive the form itself by years.

How Granite handles your Form 1099-B

When you upload a 1099-B, Granite recognizes it as a broker proceeds form, pulls out the broker name, total proceeds (Box 1d), cost basis (Box 1e), federal tax withheld, and tax year, then files it into your Tax {year} collection and groups it under the issuing brokerage. Search "capital gains," "stock sales," or your broker's name and it surfaces instantly, even years later when you finally sell the holding and need the original basis.

FAQ

Form 1099-B: common questions

What is a 1099-B form for?: A 1099-B reports the proceeds and cost basis from selling investments like stocks, bonds, options, and crypto through a broker. You use it to fill out Form 8949 and Schedule D, where you calculate your capital gains or losses and the tax owed on them for the year.
Do I have to report a 1099-B on my taxes?: Yes. You report every 1099-B transaction on Form 8949 and Schedule D, even if you had a loss. Reporting losses can actually lower your tax bill by offsetting gains, and up to $3,000 of net capital loss can offset ordinary income, with the rest carried forward to future years.
What is the difference between a 1099 and a 1099-B?: "1099" is a family of IRS information returns; the letter tells you what's reported. A 1099-B reports proceeds from selling investments, used to figure capital gains. A 1099-DIV reports dividends, a 1099-INT reports interest, and a 1099-NEC reports contractor pay. Brokers often bundle the -B, -DIV, and -INT into one consolidated 1099.
Who fills out Form 1099-B?: Your broker or barter exchange fills out the 1099-B, not you. They file a copy with the IRS and send you one for each taxable account where you sold or exchanged securities. You don't complete the form itself; you transfer its figures onto your own Form 8949 and Schedule D when you file.
What if my 1099-B is missing cost basis?: Some 1099-B transactions are marked 'noncovered,' meaning the broker didn't track or report your cost basis. You're still responsible for reporting it. Use your own purchase records or brokerage statements to determine basis. Without it, the IRS may treat your entire proceeds as gain, so keep original buy confirmations.
When should I receive my 1099-B?: Brokers must furnish Form 1099-B by February 15 of the year following the tax year, later than the January 31 deadline for many other 1099s. Brokers also issue corrected 1099-Bs fairly often, so it's worth confirming you have the final version before filing your return.

Sources

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