Instructions For Form 1099-B - 2018 (Page 6 of 11) in pdf

not file Form 1099-B. However, they may have to file Form

More information. For more information about transfer

1099-MISC.

statements, including definitions, exceptions, rules for gift

transfers, transfers from a decedent's estate, and

Transactional/aggregate reporting. Barter exchanges

transfers of borrowed securities, see Regulation section

involving noncorporate members or clients must report

1.6045A-1.

each transaction on a separate Form 1099-B.

Transactions involving corporate members or clients of a

Issuer Returns for Actions Affecting Basis

barter exchange may be reported on an aggregate basis.

An issuer of a specified security (defined later) that takes

Member information. In the recipient area of Form

an organizational action that affects the basis of the

1099-B, enter information about the member or client that

security must file an issuer return on Form 8937. This

provided the property or services in the exchange.

applies to organizational actions after 2010 (after 2011 if

Exceptions. Barter exchanges are not required to file

the stock is in a regulated investment company, and after

Form 1099-B for:

2013 for debt instruments, options, and securities futures

1. Exchanges through a barter exchange having fewer

contracts). The return is due on or before the 45th day

than 100 transactions during the year,

following the organizational action or, if earlier, January 15

of the next calendar year.

2. Exempt foreign persons as defined in Regulations

section 1.6045-1(g)(1), or

An issuer is not required to file this return if, by the due

3. Exchanges involving property or services with an

date, the issuer posts the return with the required

FMV of less than $1.00.

information in a readily accessible format in an area of its

primary public website dedicated to this purpose and, for

Statements to Recipients

10 years, keeps the return accessible to the public on its

If you are required to file Form 1099-B, you must provide a

primary public website or the primary public website of

statement to the recipient. For more information about the

any successor organization. An issuer may electronically

requirement to furnish a statement to the recipient, see

sign a return that is publicly reported on the issuer’s public

part M in the 2018 General Instructions for Certain

website. The electronic signature must identify the

Information Returns.

individual who is signing the return.

Truncating recipient's TIN on payee statements.

Effect on Form 1099-B and transfer statements. In

Pursuant to Treasury Regulations section 301.6109-4, all

preparing Form 1099-B or a transfer statement, you must

filers of this form may truncate a recipient’s TIN (social

take into account all the information reported by the issuer

security number (SSN), individual taxpayer identification

of the security on a statement that the issuer furnishes to

number (ITIN), adoption taxpayer identification number

you or is deemed to furnish to you, unless the issuer

(ATIN), or employer identification number (EIN)) on payee

statement is incomplete or you know it is incorrect. Take

statements. Truncation is not allowed on any documents

into account only those organizational actions taken by

the filer files with the IRS. A filer's TIN may not be

the issuer of the security during the period you held

truncated on any form. See part J in the 2018 General

custody of the security (beginning with the date on which

Instructions for Certain Information Returns.

you received a transferred security). If you receive or are

deemed to receive an issuer statement after filing Form

2nd TIN Not.

1099-B, you must file a corrected Form 1099-B within 30

days of receiving the issuer statement. But you do not

You may enter an “X” in this box if you were notified by the

have to file a corrected Form 1099-B if you receive the

IRS twice within 3 calendar years that the payee provided

issuer statement more than 3 years after you filed the

an incorrect TIN. If you mark this box, the IRS will not

original Form 1099-B. If you receive or are deemed to

send you any further notices about this account.

receive an issuer statement after furnishing a transfer

statement for a covered security, you must furnish a

However, if you received both IRS notices in the same

corrected transfer statement within 15 days of receiving

year, or if you received them in different years but they

the issuer statement. But you do not have to furnish a

both related to information returns filed for the same year,

corrected transfer statement if you receive the issuer

do not check the box at this time. For purposes of the

statement more than 18 months after you furnished the

two-notices-in-3-years rule, you are considered to have

original transfer statement.

received one notice and you are not required to send a

second “B” notice to the taxpayer on receipt of the second

More information. For more information, see Form

notice. See part N in the 2018 General Instructions for

8937 and its instructions, and Regulations section

Certain Information Returns for more information.

1.6045B-1.

For more information on the TIN Matching System

Barter Exchanges

offered by the IRS, see the 2018 General

TIP

A barter exchange is any person or organization with

Instructions for Certain Information Returns.

members or clients that contract with each other (or with

the barter exchange) to jointly trade or barter property or

CUSIP Number

services. The term does not include arrangements that

provide solely for the informal exchange of similar

For transactional reporting by brokers, enter the CUSIP

services on a noncommercial basis. Persons who do not

(Committee on Uniform Security Identification

contract with a barter exchange but who trade services do

-6-

Instructions for Form 1099-B (2018)

Instructions For Form 1099-B - 2018 Page 6

Related Articles

Related forms

Related Categories