Amount Realized -Form 1099-B

This is the amount you receive when you sell an asset. Your broker or mutual fund company will send you a Form 1099-B or a substitute statement. The document will list the sales price of mutual fund and stock shares you sold during the year. By law, your broker or mutual fund company must send you a 1099-B by Feb. 15, 2018.

The amount shown on the 1099-B is the total amount you enter on your return for that particular sale. The IRS checks to see if the amount you reported is the same as what your broker or mutual fund company reported.

Most 1099-Bs report the net sales price. This is the gross amount minus commissions and other expenses. Your broker or mutual fund company will tell you on the form if the amount reported is the gross sales price or the net sales price. The gross sales price includes commissions and other expenses.

If your 1099-B reports the gross sales price, you should:

  1. Enter the amount on the form.
  2. Adjust the mutual fund’s cost by adding to it the sales commissions or expenses you paid.

Related Topics

Related Resources

IRS Letter 3173 – Third Party Contacts

The IRS has contacted third parties to help figure out what you owe. Learn more about letter 3173 from the tax experts at H&R Block.

The IRS, Bitcoin, and Other Virtual Currencies | H&R Block

Have you found yourself wondering how the IRS classifies Bitcoin? Our tax pros discuss relevant IRS Bitcoin law and notices. Learn more with H&R Block.

What To Do About the IRS Negligence Penalty

The IRS negligence penalty is 20% of the amount you underpaid your tax. Learn about your options to address it from the tax experts at H&R Block.

IRS Letter 3179C – Refund Offset to Treasury Offset Program – Nontax Debt

All or a portion of your tax refund was taken to pay non-tax debt. Learn more about IRS letter 3179C from the tax experts at H&R Block.