PTIN Seal

Capital Gains & Losses

  1. PTINdirectory
  2. Tax Knowledge Database
  3. Capital Gains & Losses
  4. How does the IRS know about my stock sales ?

How does the IRS know about my stock sales ?

You will receive a Form 1099-B or 1099-S which states the gross proceeds from the sale of capital assets. The IRS will also receive a copy of Form 1099-B or 1099-S. Make sure the detail transactions listed on IRS Schedule D in the sales column equal the gross proceeds amount listed on Form 1099-B.

Need Professional Help?

If you need help with "Capital Gains & Losses" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.