The Way to File Form 1099-B By The Deadline

Were you aware that recipient copies of Form 1099-B have to be mailed out by February 16, 2021?

These types of transactions are sales created by other parties at the standard course of a trade or business that’s overseen by the agent reporting on Form 1099-B.

When reporting to the IRS, brokers must limit their transactions to only one per Form 1099-B.

Information Required to File Form 1099-B:

  • Payer Info: (Name, Address, TIN, Telephone Number)
  • Recipient Info: (Name, Address, TIN, Account Number)
  • Financial Details of the Selling
  • Description of Real Estate
  • Relevant Dates
  • Expenses and Proceeds
  • Federal/State Income Tax Withheld (if any)
  • Realized or Unrealized Gains and Losses
  • Bartering Data (if appropriate )

1099-B Deadline and Important Dates

Filing TypeDue Date
Recipient CopyFeb 16, 2021
IRS eFileMarch 31, 2021
IRS Paper FilingMarch 1, 2021

Filing Form 1099-B

As soon as you’ve gathered all the essential information, you can begin the filing process. Begin a Form 1099-B yield and add payer information, receiver details, and trade details.