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Form 1099-B IN: What You Should Know
Should you buy at these prices? — Wall Street Journal, Jan 2015 This article will answer the obvious questions for the sale of stocks or other securities for barter on a barter exchange. What if I sell stock on the NYSE for 15.00 and the seller pays me 2.50 in cash? Should I buy this stock at 15.00 and pay the seller 2.50? And should a buyer with 2.50 cash and 15.00 cash buy that particular stock at 15.00? Form 1099-B — Proceeds From Broker and Barter Exchange (C) — (R) FOR LLC The form is used in any sale (exchange) of securities or property to any qualified investor through a broker or a related person for cash, securities, including stocks and bonds, through a broker or a related person for a sale or exchange that involves (1) a broker (or related person) receiving payment for the brokerage of the securities for the benefit of the investor, any bank or brokerage firm in possession or control of such broker or such firm; (2) a brokerage firm receiving payment for the management of account for securities or account for commodities; or (3) securities, instruments or commodities being sold or disposed of through a broker or a related person for the benefit of the investor, any bank or brokerage firm in possession or control of such broker or such firm. In addition, the Form 1099-B should be used by a broker to report profits or losses on any purchase or sale of securities made pursuant to: (1) a security registration or exemption (e.g., stock option) program; (2) an IRS program; (3) a program of the Commodity Futures Trading Commission; (4) a program or organization providing for the sale of securities to persons other than qualified investors; (5) a retirement plan and plan or plan of a plan beneficiary to whom section 401 (a) has or has not been completed; (6) a plan of a State, the District of Columbia, a territory or possession of the United States, or a political subdivision of a State or the District of Columbia; or (7) a program (such as an IRA or health savings account) of an employer, an employee organization or an employee, beneficiary, dependent, or family member of such employee, beneficiary, dependent or family member.
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