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E-File Form 1099-B Online
A simple solution for brokers or barter
exchanges to file 1099-B
with the IRS and distribute recipient copies.
Why Choose TaxBandits to
E-file 1099-B?
- Easy and Secure Filing
- Comprehensive support for both Federal and State Filing
- Flexible options to distribute recipient copies
- Built-in validations for enhanced accuracy
- Phone, E-mail & Live Chat Support
Check out What’s New!
Form 1099-B: Key Insights!
- Form 1099-B is an IRS form used to report the proceeds from broker and barter exchange transactions.
- A broker or barter exchange must file this form for anyone whom they,
As a broker or barter exchange are required to file Form 1099-B with the IRS and provide recipient copies before the deadlines.
| Filing Methods | Deadline |
|---|---|
| E-filing Deadline | March 31, 2025 |
| Recipient Copy Distribution Deadline | February 15, 2025 |
What Information is Required to File Form
1099-B Electronically?
- 1. Payer Info: (Name, Address, TIN)
- 2. Recipient Info: (Name, Address, TIN, Account Number)
-
3. Transaction Info:
- Description of Property
- Date of acquisition and sale or exchange
- Proceeds, Cost or Other Basis
- Accrued market discount
- Short-term or long-term gain or loss
- Wash sale loss disallowed
- Proceeds from collectibles or QOF(Qualified Opportunity Funds)
- Realized or Unrealized Profits and Losses
- 4. Federal Income Tax Withheld (if any)
- 5. Bartering Information (if applicable)
Start filing your 1099-B tax returns with TaxBandits.
Let TaxBandits Make Your 1099-B Filing
Easier Than Ever
TaxBandits offers a comprehensive suite of services to cover your 1099-B filing needs and ensure compliance with both federal and state!
Federal and State Filing
- Easily prepare and e-file 1099-B forms to meet IRS compliance, seamlessly managing both federal and state-specific filing requirements.
W-9 Manager
-
Collect W-9s from the recipients online and use that data to file 1099-B for them at the click of
a button.
TIN Matching
-
Verify recipient TINs with the IRS database upfront to ensure your 1099-B returns
are error-free.
Postal Mailing
- Let TaxBandits print and mail the 1099-B copies to your investors, traders, or other corresponding recipients.
Online Access
- Share the form copies with your recipients through a secure online portal.
Corrections
- Fix the errors in your previously submitted 1099-B forms in TaxBandits swiftly and accurately.
How to E-file Form 1099-B Online for 2024 with TaxBandits?
Select ‘Form 1099-B’ and the tax year you need to file for. Currently, TaxBandits supports 1099-B filing for 2024, 2023 and 2022.
Enter the form data manually or choose our bulk import option to fill out your 1099-B form.
Based on your requirements, you can opt for state filing and choose how you'd like to distribute recipient copies.
Review the information entered on Form 1099-B and make any necessary changes.
After reviewing, transmit the completed Form 1099-B to the IRS and state. You’ll get instant updates via email regarding your form status.
Ready to E-file Form 1099-B with the IRS and States?
Features That Make E-Filing 1099-B Online a Breeze
User-Friendly Interface
Our intuitive software offers seamless navigation and a stress-free filing process with step-by-step guidance.
Address Book
Just add payers and recipients once, store them securely, and access the data for all your future filings.
Bulk Upload Options
Upload data using our standard CSV template and eliminate the need for manual entry.
Save As Drafts
Save your 1099-B filing progress as a draft and continue later from where you left off.
Internal Audit Check
Error checks are built-in to audit your 1099-B forms for any common errors before transmission.
IRIS Business Validation
Our software adheres to the IRIS standards and validates your 1099-B based on the new business rules.
Download Form Copies
TaxBandits allows you to download and print copies of the transmitted forms on your own.
Dedicated Support
We’ve got a team of experts who always have your back when you have any queries during the filing.
Exclusive Pro Features Designed for Tax Professionals
Streamline your tax filing process and boost your productivity with specialized features developed
for tax professionals.
BanditCollab (Team Management)
Add unlimited team members to scale your workflow effortlessly. Based on their filing responsibilities, assign each team member a role—preparer, Approver, or Transmitter.
BanditConnect (Client Management)
Use BanditConnect to exchange files securely and communicate with your clients. Customize the portal to showcase your branding.
Custom Reports
Detailed reports provide a clear view of team member activities and client filings. Improve decision-making through depth-in analytics.
Powerful API to Automate Your 1099-B
E-filing Process
Our robust API helps you automate your 1099-B filing and distribution process right from your existing systems. You can seamlessly integrate our 1099 API with your software or portal, facilitating automation while minimizing manual tasks and ensuring accuracy.
Learn moreRead What Our Customer Says About TaxBandits
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Frequently Asked Questions to File 1099-B
What is Form 1099-B?
Form 1099-B reports proceeds from broker and barter exchange transactions throughout the tax year. It must be filed with the IRS, and recipient copies must be distributed to each person who made a sale or exchange through a broker.
Want to know how to complete Form 1099-B? Here are the step-by-step
instructions for Form 1099-B.
Who must file Form 1099-B?
As a broker or barter exchange, you are responsible for filing Form 1099-B for each person who has conducted specific financial transactions through your services. You must file this form for any individual:
- For whom you’ve sold stocks, commodities, regulated futures contracts, foreign currency contracts, options, or other securities for cash, including short sales.
- Who received cash, stock, or other property from a company that was taken over by another company (acquisition of control) or went through a big change in its structure (like a merger or reorganization) need to report this. You must file this information with the IRS using Form 1099-B if you know, or have a reason to believe, that the company had one of these significant changes. These changes are also reported on Form 8806, which tracks such corporate events.
- Who has exchanged property or services through your barter exchange.
When is the deadline to file Form 1099-B for the 2024 tax year?
- The due date to file Form 1099-B electronically is
March 31, 2025. - If you file the 1099-B Form on paper, the due date is
February 28, 2025. - The due date to distribute the recipient copy is
February 15, 2025.
Visit https://www.taxbandits.com/1099-forms/form-1099-b-deadline/ to know more about
1099-B Due dates
Is It Required To File Form 1099-B With The State?
Depends on your state requirements, sometimes you need to file the 1099 B Tax Form with the state department as well. If your state is a part of the Combined Federal/State Filing program, the IRS will forward your returns directly to your state free of charge. Check Your State Filing Requirements.
How to Correct Errors on Form 1099-B?
If your IRS Form 1099-B is rejected or you notice an error on an already filed 1099-B Form, you'll need to correct it as soon as possible. Corrections can be made electronically or on paper. If the error is part of the transferor's data, a corrected copy of Form 1099-B will need to be sent to them as well.
Learn More to know about Form 1099-B correction.
What are the penalties for not filing Form 1099-B?
If you fail to file and furnish Form 1099-B within the specified deadlines, the IRS will impose penalties ranging between
$60 and $660, depending on your business size and the delayed period.
Click here to learn about 1099-B Penalties.
How to Get an Extension on IRS Form 1099 B?
Need more time to prepare your 1099-B return? Get an automatic 30-day extension of time to file your 1099-B Form by filing tax extension Form 8809. It takes just a few minutes to file.
Learn More about Form 1099 Extensions.
