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1099-B: 2014 Proceeds from Broker and Barter Exchange Transactions

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 outlines how to report 1099-B information on your federal tax return:

  • Date of Sale, Description, Sale Proceeds, Share Price, Shares This Transaction

    Use the information provided on Form 1099-B to complete Form 1040, Schedule D (Capital Gains and Losses) and Form 8949 (Sales and other Dispositions of Capital Assets). Refer to the instructions for Schedule D and Form 8949 for details on reporting. Read more about cost basis.
  • Federal Income Tax Withheld

    Amounts shown in box 4 of Form 1099-B represent federal income tax withheld, including backup withholding. The Fund cannot return this money to you. You must claim it on your individual tax return in the same manner as payroll withholding. Add this amount to any federal withholding amounts shown on your W-2 and other 1099 forms, and report it on Form 1040, line 64, "Federal income tax withheld."

The IRS requires mutual funds to group this 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.

  • Section 1—Short-Term / Covered Shares (Basis is reported to the IRS)
  • Section 2—Short-Term / Noncovered Shares (Basis is not reported to the IRS)
  • Section 3—Long-Term / Covered Shares (Basis is reported to the IRS)
  • Section 4—Long-Term / Noncovered Shares (Basis is not reported to the IRS)
  • Section 5—Unknown Holding Period (Basis is not reported to the IRS)

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.

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