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

If I have a Form 1099-C cancellation of debt from my second mortgage. Is the 1099-C cancellation of debt the only record

Learn if form 1099-C from your second mortgage is considered a cancelled debt with advice from the tax experts at H&R Block

My company withheld city taxes from my paycheck. However, I noticed city tax missing on W2. How can I report my city tax

Learn what to do if city taxes paid are missing on your W2 with help from the tax experts at H&R Block.

What’s the difference between a 1099 and W-2?

Do you know the difference between W-2 and 1099 forms? Learn more from the tax experts at H&R Block.

Filing Taxes for the Deceased – Form 1041 & More

Learn more about filing taxes for a deceased person and handling beneficiary assets with the tax experts at H&R Block.