What is Form 1099-B?
Your brokerage sends a 1099-B for each sale of stocks, bonds, mutual funds, or other securities during the year. It reports the proceeds (sale price), cost basis (what you paid), and whether the gain or loss is short-term or long-term.
SupportedKey Boxes
| Box | Description | Where it flows |
|---|---|---|
| Box 1a | Description of property sold | Form 8949 (identification) |
| Box 1d | Proceeds (gross sales price) | Form 8949 Column (d) |
| Box 1e | Cost or other basis | Form 8949 Column (e) |
| Box 1f | Accrued market discount | Reclassified as interest (Schedule B) |
| Box 1g | Wash sale loss disallowed | Form 8949 Column (g) adjustment |
| Box 2 | Short-term or long-term | Determines 8949 category (A-F) |
| Box 4 | Federal income tax withheld | Form 1040 Line 25b |
How PaisaTax Handles It
- Upload or manual add — one slot per transaction or lot
- Auto-creates Form 8949 — each 1099-B slot creates a mirrored 8949 entry
- Category assignment: Transactions are classified into categories A-F based on term (short/long) and whether basis was reported to the IRS:
- A/D: Basis reported (covered) — short/long
- B/E: Basis NOT reported (noncovered) — short/long
- C/F: Other — short/long
Common Situations
- Wash sales (Box 1g): Loss is disallowed and added to the replacement shares' basis. PaisaTax adds the wash sale amount as a Form 8949 adjustment code W.
- Market discount (Box 1f): Reclassified as ordinary income (interest) on Schedule B, not capital gain.
- Multiple transactions: Each sale is a separate slot. PaisaTax aggregates by category for Form 8949 and rolls up totals to Schedule D.