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23wo23
New Member

Will I receive a 1099 from my stock broker if I didn't make any money?

 
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3 Replies

Will I receive a 1099 from my stock broker if I didn't make any money?

You will get that form if you had interest, dividends, capital gains or an asset transaction in a non retirement account. 

DianeW777
Expert Alumni

Will I receive a 1099 from my stock broker if I didn't make any money?

It depends. If you sold any stock or other investment, then you will receive a Form 1099-B.  If you held property and made no sale transactions then you may not get a 1099-B.  However if you had any dividends or interest, then you will receive a statement from your stock broker for both or either of these.  Usually a combined statement for all things comes on one statement call a 'Substitute Consolidated 1099'.

 

Cryptocurrency is another matter, however if you had any transactions you may have to file and should receive a Form 1099-B from company where you trade.

It's important to allow enough time to receive your tax documents to accurately file your tax return once. With the backlog at the IRS right now, it takes much longer to correct any issues after your initial filing.

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Will I receive a 1099 from my stock broker if I didn't make any money?

Q:  Will I receive a 1099 from my stock broker if I didn't make any money?

 

A:  You will receive a 1099-B from your broker if you sold any stock, regardless of whether you sold it for a gain or for a loss.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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