Q:

What is a 1099-B used for?

A:

Quick Answer

According to Investopedia, tax form 1099-B is used by brokers to summarize all of their stock transactions in one place. Each stock transaction is accompanied by a loss or gain and is reported to the IRS.

Know More

Full Answer

Investopedia says that all brokers are required by law to provide the IRS with a copy of their 1099-B forms by January 31. Many of the specific figures that a broker fills out on a 1099-B are used on form 1040, Schedule D. According to the IRS official website, a person is a broker if they are an obligor that often issues and retires its own debt obligations, or if the person is a corporation that redeems its own stock.

Learn more about Taxes

Related Questions

  • Q:

    What is the FTB 3522 form?

    A:

    FTB 3522 is the Limited Liability Company Tax Voucher, a tax form required of limited liability companies (LLCs) in California. As the Franchise Tax Board explains, LLCs and corporations in California are required to pay an annual minimum franchise tax of $800. LLCs use form 3522 to make this payment.

    Full Answer >
    Filed Under:
  • Q:

    What is a Schedule C?

    A:

    A Schedule C is a tax form that owners of a small business file along with their 1040. Business owners use the form to report their income, expenditures and losses to the Internal Revenue Service. Independent contractors who work for companies but are not considered employees also use a Schedule C.

    Full Answer >
    Filed Under:
  • Q:

    Where can you print the 500 EZ GA state tax form?

    A:

    The tax form 500 EX for filing individual income taxes in the state of Georgia can be downloaded from both the Georgia Department of Revenue website and the Georgia government website. Each site offers the form as a free PDF for printing and filling out manually or through a computer.

    Full Answer >
    Filed Under:
  • Q:

    Which IRS pulbication talks about per diem rates?

    A:

    IRS Publication 1542 used to talk about the rates, but per diem rates can be found at the U.S. General Services Administration (GSA) website. Per diem rates are used for travel within the continental United States.

    Full Answer >
    Filed Under:

Explore