What Is Form 1099-B: Proceeds From Broker and Barter Exchange?

The term Form 1099-B: Proceeds from Broker and Barter Exchange refers to an Internal Revenue Service (IRS) tax form used by brokerages and barter exchanges to record customers’ gains and losses during a tax year. Individual taxpayers receive the form from their brokers or barter exchange already filled out. 1 Taxpayers transfer the information from a 1099-B to Form 8949 to calculate their preliminary gains and losses.2

 The result is entered into Schedule D of their tax return.