Form 1099-B is used to report proceeds from broker and barter exchange transactions. These transactions are sales made by other parties in the ordinary course of a trade or business that are overseen by the broker reporting on Form 1099-B. When reporting to the IRS, brokers must limit transactions to one per
Recipient copies must be mailed out by
Paper copies must be filed with the IRS by
Electronic copies must be e-filed with the IRS by
An extension for Form 1099-B can be received by filing Form 8809. Form 8809 offers a 30-day automatic extension and can be filed online with ExpressTaxFilings. Within few minutes, ExpressTaxFilings can have your 1099-B filing extension done.Learn More
Filing with ExpressTaxFilings can help you prevent late filing and keep you from incurring IRS penalties for your IRS 1099-B Forms.
If your Form 1099-B is rejected or you notice an error on an already filed 1099-B Form, you'll need to correct it as soon as possible. Corrections can be made electronically or on paper. If the error is part of the transferor's data, a corrected copy of Form 1099-B will need to be sent to them as well.
Depending on your state requirements file the Form 1099-B with the applicable state department. If the state is apart of the Combined Federal/State Filing, then the IRS will forward the original and corrected forms to the state free of charge.