The Way to File Form 1099-B By The Deadline
Posted On 20.11.2020
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 Type||Due Date|
|Recipient Copy||Feb 16, 2021|
|IRS eFile||March 31, 2021|
|IRS Paper Filing||March 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.