How to fill 1099-B

Here is a brief explanation of how to populate the mandatory boxes on each 1099-B form:

- 1a - Description of Property - the number of transactions made toward one company (ex. - 10 Tesla).

*A transaction is every sold/bought stock on your form;

- 1b - Date acquired - The very first date you bought the stocks; 
- 1c - Date sold or disposed - The last date you sold the stocks;
- 1e - Cost or Other basis - the total amount on which you bought the transactions reported;
- 1d - Proceeds - the total amount on which you sold the transactions reported;
- 1g - Wash sale loss disallowed- Typically, to estimate your wash sale you have to subtract the wash sale amount from the cost basis amount from the broker's report and enter the result in the cost basis field on Sprintax 1099-B to arrive at the correct gain. Note that this is not something that Sprintax will calculate for you, it is an amount that you will calculate by yourself and then be used by the software to prepare your return;
- box 4, 16 - Federal/State taxes withheld- You do not fill anything there as you do NOT have taxes withheld on the 1099 forms. You can put 0 if you are not allowed to continue without filling the boxes;
- box 14 - State name - The state you lived in while buying and selling the stocks;
- box 15 - State identification no. - You can put 0 as you do NOT have state identification number;
- Payer's details - You should enter the details of the company you traded with. For example - Robinhood. If you do not have their tax identification number - you can put 0s.

*Is the gain or (loss) reported on this form effectively connected with U.S. trade or business, or in result of the sale or exchange of U.S. real property? - In Sprintax you will be asked if your income is effectively connected to an US business or trade. If your only US business activity is trading in stocks, securities, or commodities (including hedging transactions) through a US resident broker or other agent, you are NOT engaged in a trade or business in the United States and you can select ‘No’ for this question.