IRS Posts 1099-B again as DRAFT

Scivantage has been informed that the IRS has again posted the new Form 1099-B as a draft. This latest version  shows Box 7 as blank and has no instructions for it. Box 7, previously, was where the issuer of the form would calculate the gain or loss on the sale.

This update comes after the IRS released a “final” 1099 three weeks ago.  Stay tuned for the next round of updates.

Here is a link to the latest version – 1099-B DRAFT (as of 3/10/2011)

Posted in Basis reporting legislation, Cost Basis and tagged , .