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Form 1099-B

Form 1099-B
Who needs it?
Investors who redeemed or exchanged shares in a non-retirement mutual fund acccount.
 
When is it mailed by?
By the first business day on or after February 15.
 

Proceeds from Redemption or Exchange of Securities

All redemptions (sales) or exchanges made in non-retirement mutual fund accounts, except money market accounts, must be reported on Form 1099-B. Form 1099-B reports the gross proceeds from the sale or exchange of your mutual fund shares in 2013. If you redeemed or exchanged shares in the Domini Social Equity Fund, Domini International Social Equity Fund, or Domini Social Bond Fund during 2013, you will receive a Form 1099-B.
 
If you have one of the following types of accounts, you will not receive Form 1099-B:

  • Individual Retirement Accounts and other tax-deferred accounts (including Roth and Traditional IRAs, Rollover IRAs, SEP and SIMPLE IRAs, Coverdell Education Savings Accounts and qualified tuition plan accounts)
  • Accounts owned by corporations, certified nonresident aliens and certain tax-exempt organizations

Effective tax year 2012, Form 1099-B now also reports cost basis information for your mutual fund redemption(s), if available. The layout of Form 1099-B changed significantly last year, and information is now broken out into the following five sections based on the categorization of the redemption and the cost basis information available:

Section 1: Short-Term Transactions for which Basis Is Reported to the IRS. If information is reported in this section, the portion of the redemption is categorized as a short-term capital gain. The cost basis information listed in boxes 3, 5 and 6a will be reported to the IRS. This information should be reported on Form 8949 where further adjustments may be made, if necessary.

Section 2: Short-Term Transactions for which Basis Is Not Reported to the IRS. If information is reported in this section, the portion of the redemption is categorized as a short-term capital gain. The cost basis information listed in boxes 3, 5 and 6a will not be reported to the IRS. This information can be used as a guide to help determine your cost basis.

Section 3: Long-Term Transactions for which Basis Is Reported to the IRS. If information is reported in this section, the portion of the redemption is categorized as a long-term capital gain. The cost basis information listed in boxes 3, 5 and 6a will be reported to the IRS. This information should be reported on Form 8949 where further adjustments may be made, if necessary.

Section 4: Long-Term Transactions for which Basis Is Not Reported to the IRS. If information is reported in this section, the portion of the redemption is categorized as a long-term capital gain. The cost basis information listed in boxes 3, 5 and 6a will not be reported to the IRS. This information can be used as a guide to help determine your cost basis.

Section 5: Transactions for which Basis Is Not Reported to the IRS and for Which Short- or Long-Term Determination is Unknown. If information is reported in this section, there is not enough information available to determine the cost basis for your redemption or exchange.