66817 1099 step by step guide_Final_unsecured - EDITS - Form 1099 step by step guide

Sep 19, 2026

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Guide to Form 1099 and related tax reporting for tax year 2020, focusing on Form 1099-B proceeds from broker and barter exchange transactions. Explains when mutual fund share sales require Form 1099-B, how covered short-term versus non-covered transactions map to Form 8949 Part I boxes, and how proceeds flow to Schedule D and Form 1040 based on holding period. Includes description of key boxes such as property, acquisition/disposal dates, net proceeds, cost basis, backup withholding, and gain/loss information.

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Form 1099-B

Mutual fund share transactions requiring Form 1099-B

Covered vs non-covered short-term transactions

Box-by-box field descriptions

Form 1099-DIV

2020 dividend box overview

Form 1099 Information Form 1099-B If you redeemed or exchanged mutual fund shares in 2020, other than money market fund shares or shares within a retirement account, you will receive a Form 1099-B. Form 1099-B reports the proceeds from any such sales and is used to calculate capital gains and losses. Proceeds from such sales must be reported to the IRS. For tax year 2020, we are required to report your cost basis for shares of funds that were purchased on or after January 1, 2012, and sold during 2020. Below is an example of a 1099-B form for a sale or exchange of shares held for one year or less. Please note that your 1099-B may have different or additional sections depending on the holding period of your shares. Corrected (if checked) D (0MB No. 1545-0715) I FORM 1099-B • PROCEEDS FROM BROKER AND BARTER EXCHANGE TRANSACTIONS • 2020 Short-term transactions for which basis is reported to the IRS; report on Form 8949, Part I with Box A checked. | Transaction |
1a | (1a) Description of property
Share Price** | Quantity
Sold** |
1b
(1b)
Date acquired | 1c | (1c)
Date sold or
disposed |
1d
(1d)
Net proceeds | 1e | (le)
Cost or other basis | (1g)
Wash sale loss
disallowed | (3)
Proceeds
from QDF | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | 4 (4) Federal income tax withheld Fund: [Fund-Acct. no.:](Fund-Acct. no.:) PAYER'S TIN: I I I I I I I I I Fund: [Fund-Acct. no.:](Fund-Acct. no.:) PAYER'S TIN: I I I I I I I I I FUND TOTAL: | 5
(5)
Non-

covered security
CUSIP no.:
I I
CUSIP no.:
I I | (14)
State
name | (15)
State
identification no. | (16)
State tax
withheld | |
6
Gain/(Loss)** | | --- | --- | --- | --- | --- | --- | | | I | | Cost Basis Method**:
I | I | | | | I | | Cost Basis Method**:
I | I | | | Fund:
FUND TOTAL: | I | I | I | [Fund-Acct. no.:](Fund-Acct. no.:)
I I | I | I | PAYER'S TIN:
I | I | I | CUSIP no.:
I | I | Cost Basis Method**:
I | I | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | Short-term transactions for which basis is NOT reported to the IRS; report on Form 8949, Part I with Box B checked. | (1a) Description of property
Share Quantity
Transaction Price** Sold** | (1b)
Date acquired | (1c)
Date sold or
disposed | (1d)
Net proceeds | (le)
Cost or
other
basis | (1g)
Wash sale loss
disallowed | (3)
Proceeds
from QOF | | --- | --- | --- | --- | --- | --- | --- | Federal income tax withheld (4) Fund: [Fund-Acct. no.:](Fund-Acct. no.:) PAYER'S TIN: I I I I I I I I I Fund: [Fund-Acct. no.:](Fund-Acct. no.:) PAYER'S TIN: I I I I I I I I I FUND TOTAL: | (5)
Non
covered
security | (14)
State
name | (15)
State
identification
no. | (16)
State tax
withheld | Gain/(Loss)** | | --- | --- | --- | --- | --- | | CUSIP no.: | | Cost | Basis Method**: | | | I Yes | I I | I | | I | | CUSIP no.: I Yes | I I | Cost
I | Basis Method**: | I | | Box | Description | | --- | --- | |
1a | Description of Property. This shows a description of the transaction for which amounts are being reported. This information is used in completing Form 8949, Column (a) . | |
1b | Date of acquisition. This shows the acquisition date of any shares sold. This box may be blank if shares were sold on a variety of dates or if acquisition dates cannot be determined. | |
1c | Date sold or disposed This shows the date your sale or exchange transaction was executed. | |
1d | Net proceeds. This is the net proceeds from the sale or exchange of fund shares. This amount should be reported on Form 8949, and flow to Schedule D of Form 1040, Column (d) on either Line 2 or Line 9, depending on your holding period for the shares. Please speak with your tax adviser for specific advice. | |
1e | Cost or other basis. This box r

FAQs

When do you receive a Form 1099-B for mutual fund share transactions?

If you redeemed or exchanged mutual fund shares in 2020 (other than money market fund shares or shares within a retirement account), you will receive Form 1099-B for those sales or exchanges.

How are short-term transactions reported when cost basis is provided to the IRS?

Report covered short-term transactions on Form 8949, Part I with Box A checked, and include the net proceeds and other required fields that flow to Schedule D of Form 1040.

What does the Gain/(Loss) box represent on Form 1099-B?

It shows the gain or loss from the transaction for informational purposes only; for covered shares, refer back to the description of Box 1e for how this relates to cost basis.

Sep 19, 2026

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