1099 and trading

Discussion in 'Professional Trading' started by GHJK, Mar 2, 2011.

  1. GHJK


    This is the first year I'll get getting a 1099 along w a K1 for taxes

    I normally just hand my accountant the K1 and taxes are easy, but I'm wondering if there is anything I should know or do now that I'm getting a 1099

    I know I should ask my accountant but they don't always know the best w regards to trading.
  2. morgen


    1099 has serveral forms according to different income type..
    For example: 1099-b is for Broker transactions
    first you will get Proceeds From Broker and Barter Exchange and you should reportTransactions Sales or redemptions of securities, futures transactions, commodities, and barter exchange transactions.

    The following is a detailed introduction about all kinds of 1099 forms
    hope that help you!