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What's a 1099B?
AI accountant’s answer:
A Form 1099-B is a tax document issued by brokers or barter exchanges to report the proceeds from transactions involving the sale or exchange of stocks, bonds, commodities, and other securities. The form provides information on the date of the sale, the amount of proceeds, the cost basis (if available), and other details related to the transaction. Taxpayers who receive a Form 1099-B must report the information on their tax return, usually on Schedule D of Form 1040, to calculate their capital gains or losses. The resulting capital gains or losses may be subject to tax, depending on the holding period and other factors.
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