Skip to main content
Tax Resource Center

1099-B Nonqualified Distributions

Form 1099-B reports the sale of mutual fund shares and related cost basis information. In most cases, you’re required to use the information on this form to determine your gain or loss on the sale of your mutual fund shares. Please note that Thrivent Mutual Funds does not report average cost information for non-covered shares to the IRS.

Who Gets It

Shareholders who redeemed shares or exchanged shares to another fund from non-tax-deferred accounts for mutual funds with fluctuating share prices.

When It's Mailed

Thrivent Mutual Funds targets mail dates by January 31st and mid-to-late February for Thrivent mutual funds that invest in REITs (real estate investment trusts): Thrivent Diversified Income Plus Fund and Thrivent Growth and Income Plus Fund.

What's In It

Redemption transaction information including systematic withdrawals and exchanges; redemption trade date and redemption amount; federal income tax withheld and cost basis information.

How To Use It

Calculate capital gains or losses on IRS Form 8949 and Schedule D.


1099-B Tax Form Information

Below are descriptions of the boxes on Form 1099-B. Capital gains activity due to the sale of assets is entered on IRS Form 8949, with totals carried over to IRS Schedule D.

Refer to IRS Form 8949 Instructions, IRS Publication 551 and IRS Publication 550 for more information.At Thrivent Mutual Funds, we recommend you consult your tax advisor to make sure you’re getting the most out of your investments. Thrivent Mutual Funds and their representatives cannot provide legal or tax advice.

 

Box 1a—Description of property

Shows a brief description of the item or service for which the proceeds are being reported. It includes Share price (selling price per share) and Quantity (the number of shares sold).

  • How to report on your IRS Form 8949
    • Column 1a: Description of Property
    • Fund name and Box 1a description

 

Box 1b—Date acquired

A specific date will be included when applicable. If multiple dates apply, the box will be blank.

  • How to report on your IRS Form 8949
    • Column 1b: Date acquired
    • Use the date in Box 1b if provided
    • If Box 1b is blank, use “Various”

 

Box 1c—Date sold or disposed

Reports the trade date of your sale of shares.

 

Box 1d—Net proceeds

Reports the amount of proceeds from the sale of shares, either through redemption or exchange.

 

Box 1e—Cost or other basis

Provides the cost basis used to calculate your capital gain or loss on the shares redeemed.

  • How to report on your IRS Form 8949
    • Column 1e: Cost or other basis

 

Box 1f/1g—Accrued market discount/Wash sale adjustments

Reports the amount of nondeductible loss in a wash sale transaction.

 

Box 4—Federal income tax withheld

Reports the amount withheld from your redemptions as a prepayment of your federal income tax.

  • How to report on your IRS Form 8949
    • Line 64 - Federal income tax withheld

 

Box 5—Noncovered securities - checkbox

If marked “YES,” cost basis for the shares that were sold will not be reported to the IRS. You do not have to use the average cost basis information provided to complete your tax return.

If blank, the cost basis information provided for this transaction must be used and will be reported to the IRS.

Separate forms are needed if more than one box needs to be checked:

  • Report short-term gains and losses on Part I, check (A) or (B)
  • Report long-term gains and losses on Part II, check (D) or (E)

See headings above each section on your Form 1099-B to determine holding period.

  • Short-term gains and losses:
    • Check (A) if Box 5 is blank
    • Check (B) if Box 5 indicates "Yes"
  • Long-term gains and losses:
    • Check (D) if Box 5 is blank
    • Check (E) if Box 5 indicates "Yes"

 

Boxes 14-16—State information

These boxes will be filled with state-specific information if state backup withholding was taken from the distribution.

 

Cost Basis Method and Gain/(Loss) 

These two columns are not reported to the IRS and are included for your information only. The Cost Basis Method column indicates the method used to calculate cost basis. The Gain/(Loss) column contains the gain or loss amount for the any wash sales or sales load basis deferral adjustmentments occurring within the same account. There may be other adjustments that you will need to make to the cost basis for activity between different accounts. See your tax advisor for more information. 

 

 

Based on 2016 IRS Form instructions. Subject to change.