Instructions For Form 1099-B - 2006 Page 5
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26receipt of the second notice. See part N in the 2006 General
fair market value of any trade credits or scrip credited to the
Instructions for Forms 1099, 1098, 5498, and W-2G for
member’s or client’s account. However, do not include
more information.
amounts received by a member or client in a subsequent
exchange of credits or scrip. Do not report negative
For more information on the TIN Matching System
amounts.
TIP
offered by the IRS, see the 2006 General
Box 4. Federal Income Tax Withheld
Instructions for Forms 1099, 1098, 5498, and W-2G.
Enter backup withholding. For example, persons who have
Corporation’s Name
not furnished their TIN to you in the manner required are
For an acquisition of control or change in capital structure,
subject to withholding at a 28% rate on certain amounts
enter the corporation’s name.
required to be reported on this form. Use Form W-9 to
request the TIN of the recipient. For foreign recipients,
Account Number
request the recipient complete the appropriate Form W-8.
The account number is required if you have multiple
See the Instructions for the Requester of Forms W-8BEN,
accounts for a recipient for whom you are filing more than
W-8ECI, W-8EXP, and W-8IMY.
one Form 1099-B. Additionally, the IRS encourages you to
Box 5. Number of Shares Exchanged
designate an account number for all Forms 1099-B that you
file. See part L in the 2006 General Instructions for Forms
Enter the number of shares in the reporting corporation that
1099, 1098, 5498, and W-2G.
were exchanged by the shareholder.
Box 1a. Date of Sale or Exchange
Box 6. Classes of Stock Exchanged
For broker transactions, enter the trade date of the sale or
Enter the class of stock (for example, preferred, common,
exchange. For barter exchanges, enter the date that cash,
etc.) exchanged in the reporting corporation for cash or
property, a credit, or scrip is actually or constructively
other property received. Abbreviate the class to fit the entry.
received.
For example, enter “C” for common stock, “P” for preferred,
or “O” for other. Also abbreviate any subclasses.
Box 1b. CUSIP No.
Box 7. Description
For transactional reporting by brokers, enter the CUSIP
(Committee on Uniform Security Identification Procedures)
For transactions other than an acquisition of control or
number of the obligation.
substantial change in capital structure, enter a brief
description of the disposition item (for example, 100 shares
Box 2. Stocks, Bonds, etc.
of XYZ Corp. stock). If necessary, abbreviate the description
Enter the aggregate gross proceeds from all dispositions of
so that it fits within box 7. For regulated futures contracts
securities (including short sales), commodities, or forward
and forward contracts, enter “RFC” or other appropriate
contracts. For reporting an acquisition of control or
description.
substantial change in capital structure, include in box 2, the
For bartering transactions, show the services or property
aggregate amount of cash and the fair market value of any
provided.
stock or other property received. See Reporting on page B-1
for more information for brokers. Show a loss, such as one
Regulated Futures Contracts—Brokers
from a closing transaction on a forward contract, as a
Only:
negative amount by enclosing it in parentheses. If the
aggregate amount reported includes a loss from a
Box 8. Profit or (Loss) Realized in 2006
corporation that has undergone a change in control or
substantial change in capital structure, advise the recipient
Enter the profit or (loss) realized by the customer on closed
separately of the loss amount and check box 12. The
regulated futures or foreign currency contracts in 2006.
recipient is prohibited from using the loss to offset other
Box 9. Unrealized Profit or (Loss) on Open
capital gains.
Contracts—12/31/2005
To determine gross proceeds, you may take into account
Enter the unrealized profit or (loss) on open regulated
commissions and option premiums if this treatment is
futures or foreign currency contracts at the end of 2005.
consistent with your books. You may not take into account
state and local transfer taxes. Check the applicable box to
Box 10. Unrealized Profit or (Loss) on Open
indicate which amount has been reported to the IRS. Do not
Contracts—12/31/2006
include amounts shown in boxes 8 through 11.
Enter the unrealized profit or (loss) on open regulated
Do not include any accrued interest on bonds sold
futures or foreign currency contracts at the end of 2006.
between payment dates (or on a payment date) in this box.
Box 11. Aggregate Profit or (Loss)
Instead, report this accrued interest on Form 1099-INT.
Enter the aggregate profit or (loss) for the year from
Box 3. Bartering
regulated futures or foreign currency contracts. Use boxes
Enter the gross amounts received by a member or client of a
8, 9, and 10 to figure the aggregate profit or (loss).
barter exchange. This includes cash received, the fair
market value of any property or services received, and the
B-3
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