1099-B: Proceeds from Broker and Barter Exchange TransactionsInformation for the 2012 Tax Year
This information is provided to shareholders who sold shares in a fund that had a fluctuating share price. Details of the proceeds from each exchange, redemption, and check-writing draft are provided for the purpose of computing a gain or loss on the sale of securities.
The following information will outline how to report 1099-B information on your federal tax return:
Starting with tax year 2012, the IRS requires mutual funds to group the information by up to five categories based on the holding period of the shares sold and if the shares sold were covered or noncovered shares. As a result of this requirement, your sales may be split into different categories.
Any tax or legal information in this website is merely a summary of our understanding and interpretations of some of the current income tax regulations and is not exhaustive. Investors should consult their tax advisor or legal counsel for advice and information concerning their particular situation. Wells Fargo Funds Management, LLC, Wells Fargo Funds Distributor, LLC, nor any of their representatives may give legal or tax advice.