TurboTax Tip: Form 1099-B shows whether your gain or loss is short-term or long-term, affecting the tax rate. Typically, short-term gains are taxed at ordinary income rates, while long-term gains get lower tax rates. Barter exchanges A secondary use of Form 1099-B is ...
Disclosures: TurboTax Free Edition is for simple Form 1040 returns only (no schedules except for Earned Income Tax Credit, Child Tax Credit and Student Loan Interest). Roughly 37% of filers qualify. How a 1099-B form works A 1099-B lists your investment sales activity and what type of tran...