My question is: will a 1099b be reported to the irs, if it shows a net loss for all futures transactions for the year? will a 1099b be created by the company, if the only entry will be total data and platform costs: e.g, if you pay a company like bloomberg for the platform monthly, and the end of the year, your total costs are $500, will that be reported to the irs, via a 1099b?
Will this reported to the irs?
Oct 17, 2017
1 Replies
1099b? ================== It shouldn't matter what they report (as long as it's correct). You should be reporting what you need to.
Capital transactions should all be reported. Futures are reported in boxes 8-11 of form 1099-B.
Broker and management FLAT (i.e. non-trading) fees usually aren't.
Trading commissions may be reported - or not. You may have to check with your broker's statement to see if the commission was used in the computation of "net proceeds" if that box in section 6 of the 1099-B was checked. (Note that the checkboxes in section 6 might not apply to futures contracts).
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