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i sold bonds & have 1099 Int and i am asked to complete 1099B, what do i do?

i sold bonds and have a 1099INT and am asked to report 1099B?
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JamesG1
Employee Tax Expert

i sold bonds & have 1099 Int and i am asked to complete 1099B, what do i do?

What is the nature of the bonds that you are referring to?  Did you import the information from your bank or financial institution?  Please clarify.

 

It is possible that you are reporting bond interest on IRS form 1099-INT and the bonds were sold or reached their term.  If such is the case, the sale of the bond principal is being reported on an IRS form 1099-B.  

 

In this case, the Proceeds of the sale may equal the Cost or other basis of the bond principal and report $0 gain/loss.

 

 

 

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