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    masonhook's Avatar
    masonhook Posts: 1, Reputation: 1
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    #1

    Apr 4, 2009, 08:29 AM
    1099b proceeds with margin account
    If I have a reportable 1099b but the activity statement shows transaction are (trf cash to margin) or (Trf from cash to margin) how do I report? Helping a friend and have knowledge of taxes, but his 1099 b shows 49 items $100754.00 but he says he received no money. It looks like it is from a margin account. Any help would be appreciated.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Jun 3, 2009, 09:42 AM
    I would have to examine the Form 1099-B to be sure, but it seems that the transactions are payments of margin interest, which would not be reported on Schedule D.

    Actual equity or option sales or puts is what gets reported.
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