Capital Gains & Losses
- Capital Assets
- Investment Property
- Capital Losses versus Ordinary Losses
- Section 1244 Stock
- Personal Use Property
- Noncapital Assets
- Selling Business Property
- Section 1231 Gains and Losses
- Figuring Basis
- Amount Realized
- Holding Period
- Computing Capital Gains and Losses (the netting process)
- Schedule D and Form 8949
- Form 1099-B
- Capital Gains Rate Table
More Tax Topics
- Business Structures
- Start-up Costs
- Depreciation
- Car Expenses
- Home Office Deduction
- Travel Expenses
- Hiring Workers
- Meals and Entertainment
- Retirement
- Top Tax Myths
- Per Diem Rates - IRS Publication 1542 Oct 2011 for Travel Within the Continental U.S (for employers who pay a per diem allowance to employees)
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Updated for 2011
Form 1099-B
Form 1099-B Explained
Financial institutions report sales of investment property to the IRS on Form 1099-B or a substitute statement. You also get a copy.
Form 1099-B may show either gross proceeds or net proceeds.
Gross proceeds:
If gross proceeds and selling expenses are separately stated on Form 1099-B, include on Schedule D the gross proceeds amount in column (d) and add the selling expenses to the cost basis in column (e).
Net proceeds:
If only net proceeds are reported on Form 1099-B, report the net amount as the sales price in column (d) of Schedule D.
Do not include selling expenses in column (e).
Related Links
- What are Capital Assets?
- Selling Investment Property
- Capital Losses and Ordinary Losses Explained
- Nine Rules for Capital Losses.
- What is Section 1244 Stock?
- Special Tax Treatment for Personal Use Property
- Property Not Classified as a Capital Asset
- Inventory, Accounts Receivable, and Notes Receivable
- Depreciable Business Property
- Form 4797, Sale of Business Property
- What is Section 1231?
- What is Basis
- Unadjusted Basis
- Adjusted Basis
- Figuring Amount Realized
- What Is Your Holding Period?
- How to Determine Your Holding Period
- When the Holding Periods Begins for Certain Types of Items
- Selling Stock
- Computing Capital Gains and Losses
- The Netting Procedure
- Transactions Reported on Schedule D
- Form 1099-B Explained
- Transactions Reported on Schedule D
- Form 1099-B Explained
- Transactions Reported on Schedule D
- Capital Gains Rate Table
Copyright © 2008-2012 Larry Villano. All rights reserved.