The National Directory of Certified Public Accountants

Ask A CPA - Capital Gains & Losses

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.

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