Is Your 1099-B Final?
By : Alyse.firstname.lastname@example.org -
Tax season is here, and like many other Americans you are trying to organize your paperwork to have your taxes completed. But then you come across your 1099-B from your broker or investment firm and you see something along the line of figures not final listed. So what does this mean? It means that your 1099-B is not complete, and because of this you can’t submit your tax paperwork yet.
So, first off, do you know if you need to have a 1099-B? If you invest in stocks, bonds, mutual funds, or any other type of securities, you must have a 1099-B.
If you haven’t received your 1099-B yet, you may be wondering why. Brokers or investment firms have until February 15th to send them out, and there is a chance you just haven’t received yours yet.
Now, if you did receive it and it says figures not final, it may be because they are still waiting on some figures. So, what do you do? Wait to see if you get a new one marked “final”. Keep in mind that broker or investment firms have until March 15th to mail the “final” 1099-B. If you don’t receive anything by March 15, call the broker or the investment firm you deal with to get the 1099-B.
Having your 1099-B completed before you have your taxes completed is important because that information must be reported on your tax returns.
If you have all of your information and you’re ready to have your taxes completed, please contact A Mazzo Accounting today to schedule your appointment. We help individuals and businesses complete their tax returns properly.
A Mazzo Accounting provides a variety of tax and accounting services to individuals and businesses in the Wyomissing, Reading, West Reading, Sinking Spring and Kenhorst areas, as well as towns and villages around the Greater Reading area. Our services for small to mid-size businesses include taxes, payroll services, accounting services, and bookkeeping services. We also provide a variety of services for individuals and they include tax return preparation as well as some accounting assistance.