Note: The Form 1099-B, Proceeds From Broker and Barter Exchange Transactions skill has been trained to process forms for the tax years of 2021, 2022, and 2023.This skill recognizes handwritten text. The option is enabled by default. If you do not import handwritten forms, disable the Handwritten option in the skill settings.
Countries and Languages
| Countries | Languages |
|---|---|
| USA | English |
Extracted Fields
Basic Form Information
| Field | Description |
|---|---|
| Void | Specifies that the processed form should be annulled. |
| Corrected | Specifies that the processed form is being submitted to correct data provided earlier. |
| Year | The reporting fiscal year. |
Form 8949 Classification
| Field | Description |
|---|---|
| Applicable Checkbox on Form 8949 | Indicates where to report this transaction on Form 8949. Possible code values: Code A (indicates a short-term transaction for which the cost or other basis is being reported to the IRS) Code B (indicates a short-term transaction for which the cost or other basis is not being reported to the IRS) Code D (indicates a long-term transaction for which the cost or other basis is being reported to the IRS) Code E (indicates a long-term transaction for which the cost or other basis is not being reported to the IRS) Code X (used if a transaction holding period is unknown). |
Payer Details
| Field | Description |
|---|---|
| Name | The name, address, phone number, and tax identification number (TIN) of the payer. |
| Street | The name, address, phone number, and tax identification number (TIN) of the payer. |
| City | The name, address, phone number, and tax identification number (TIN) of the payer. |
| State | The name, address, phone number, and tax identification number (TIN) of the payer. |
| Country | The name, address, phone number, and tax identification number (TIN) of the payer. |
| ZIP Code | The name, address, phone number, and tax identification number (TIN) of the payer. |
| Phone | The name, address, phone number, and tax identification number (TIN) of the payer. |
| TIN | The name, address, phone number, and tax identification number (TIN) of the payer. |
Recipient Details
| Field | Description |
|---|---|
| Name | The name, address, and tax identification number (TIN) of the recipient. |
| Street | The name, address, and tax identification number (TIN) of the recipient. |
| City | The name, address, and tax identification number (TIN) of the recipient. |
| State | The name, address, and tax identification number (TIN) of the recipient. |
| Country | The name, address, and tax identification number (TIN) of the recipient. |
| ZIP Code | The name, address, and tax identification number (TIN) of the recipient. |
| TIN | The name, address, and tax identification number (TIN) of the recipient. |
Account and Identification Information
| Field | Description |
|---|---|
| Account Number | The unique number used by the payer to identify the payment recipient. |
| 2nd TIN Notified | Specifies whether the payer has been notified by the IRS twice within 3 calendar years that the TIN provided by the payer was incorrect. |
| CUSIP Number | The unique identifier assigned to each security registered with the Committee on Uniform Securities Identification Procedures (CUSIP). |
| FATCA Filing Requirement | Specifies that the Foreign Account Tax Compliance Act (FATCA) filing requirement is satisfied. |
Transaction Details
| Field | Description |
|---|---|
| Description of Property | For stock and debt instruments, the description of shares or units that were exchanged. For stock, the class or classes of stock (for example, preferred, common, etc.) that were exchanged. For bartering transactions, the description of the service or property provided. |
| Date Acquired | The acquisition date of any securities sold. |
| Date Sold or Disposed | The trade date of the sale or exchange. |
Financial Information
| Field | Description |
|---|---|
| Proceeds | The gross cash proceeds from all dispositions (including short sales) of securities, commodities, options, securities futures contracts, or forward contracts. |
| Cost or Other Basis | The adjusted basis of any securities sold unless the security is not covered. |
| Accrued Market Discount | The amount of accrued market discount. |
| Wash Sale Loss Disallowed | Any loss disallowed if both the sale and purchase transactions occur in the same account with respect to covered securities with the same CUSIP number. |
Gain/Loss Classification
| Field | Description |
|---|---|
| Short-term Gain or Loss | Specifies the profit or loss from the sale of a capital asset that was held for one year or less. |
| Long-term Gain or Loss | Specifies the profit or loss from the sale of a capital asset that was held for more than one year before it was sold. |
| Ordinary | Specifies that the gain or loss from the sale of a security or other asset is treated as ordinary income or loss, not as a capital gain or loss. |
Proceeds From
| Field | Description |
|---|---|
| Collectibles | Specifies whether the proceeds are from a transaction involving collectibles. Possible values: Collectibles, QOF (disposition of an interest in a Quality and Outcomes Framework). |
| QOF | Specifies that the transaction being reported is the disposition (for example, sale, exchange, or other transfer) of an investment in a Qualified Opportunity Fund. |
Reported to IRS
| Field | Description |
|---|---|
| Gross Proceeds | The total amount of money received from the sale of a security, commodity, or other property, before any commissions, fees, or other expenses have been deducted. |
| Net Proceeds | The total proceeds from a sale after certain expenses, such as commissions and transfer taxes, have been subtracted. |
Tax Withholding and Reporting
| Field | Description |
|---|---|
| Loss Is Not Allowed | Specifies that the loss is not allowed based on the amount of proceeds. |
| Basis Reported to IRS | Specifies whether the basis is reported to IRS. |
Futures and Foreign Currency Contracts
| Field | Description |
|---|---|
| Profit or (Loss) realized on closed contracts (This Year) | The profit or (loss) realized by the payer on closed regulated futures or foreign currency during the current year. |
| Unrealized Profit or (Loss) on Open Contracts (Year before) | The unrealized profit or (loss) on open regulated futures or foreign currency during the previous year. |
| Unrealized Profit or (Loss) on Open Contracts (This Year) | The unrealized profit or (loss) on open regulated futures or foreign currency during the current year. |
| Aggregate Profit or (Loss) on Contracts | The aggregate profit or (loss) for the year from regulated futures or foreign currency. |
Bartering Transactions
| Field | Description |
|---|---|
| Bartering | The gross amounts received by a member or client of a barter exchange. |
State 1 Information
| Field | Description |
|---|---|
| State Name | The information about filers who participate in the Combined Federal/State Filing Program and/or who are required to file paper copies of this form with a state tax department. |
| State Identification No | The information about filers who participate in the Combined Federal/State Filing Program and/or who are required to file paper copies of this form with a state tax department. |
| State Tax Withheld | The information about filers who participate in the Combined Federal/State Filing Program and/or who are required to file paper copies of this form with a state tax department. |
State 2 Information
| Field | Description |
|---|---|
| State Name | The information about filers who participate in the Combined Federal/State Filing Program and/or who are required to file paper copies of this form with a state tax department. |
| State Identification No | The information about filers who participate in the Combined Federal/State Filing Program and/or who are required to file paper copies of this form with a state tax department. |
| State Tax Withheld | The information about filers who participate in the Combined Federal/State Filing Program and/or who are required to file paper copies of this form with a state tax department. |
Key Fields
- Year
- Payer Details/TIN
- Recipient Details/Name
- Recipient Details/TIN