My husband received a 1099-B and I do not know how to enter any of the information on our taxes. We don't even know what a 1099-B form is used for. Can you help us?

[SharonC1 · Accepted solution]

Regarding what a 1099-B is - A broker or barter exchange must file a 1099-B for each person:

• For whom, they sold stocks, commodities, regulated futures contracts, foreign currency contracts, forward contracts, debt instruments, options, securities futures contracts, etc., for cash,
• Who received cash, stock, or other property from a corporation that the broker knows or has reason to know has had its stock acquired in an acquisition of control or had a substantial change in capital structure reportable on Form 8806, or
• Who exchanged property or services through a barter exchange.

You can type 1099-B into the search bar in TurboTax and the program will provide a jump link you can click and be taken directly to the input screen for 1099-B.