Industries › 1099-B, 1099-DIV & 1099-INT E-Filing for Financial Services
At a Glance
What is the Best 1099-B Software for Brokerages?
Financial services firms have complex 1099 reporting requirements for securities transactions, dividends, interest payments, and retirement distributions. The best solution handles multiple 1099 types with bulk processing and the security infrastructure the industry requires.
BoomTax serves brokerages, RIAs, wealth management firms, and investment companies who need a reliable platform for high-volume 1099 filing with enterprise-grade security.
Why Financial Services Firms Choose BoomTax
- 1099-B for Transactions: Report proceeds from securities sales with cost basis information.
- 1099-DIV for Dividends: Report ordinary dividends, qualified dividends, and capital gains distributions.
- 1099-INT for Interest: Report interest income from bonds, money markets, and other instruments.
- 1099-OID: Report original issue discount on bonds and debt instruments.
- 1099-R for Retirement: Report IRA distributions, rollovers, and retirement plan payments.
- Bulk Processing: File thousands or tens of thousands of 1099s in a single batch.
1099 Forms for Financial Services
Securities & Investment Income
1099-B Filing for Securities Transactions
Brokerages must file 1099-B for proceeds from securities sales. BoomTax handles the complexity:
- Cost Basis Reporting: Include acquisition date and cost basis as required.
- Short-Term vs Long-Term: Properly categorize holding periods.
- Covered vs Non-Covered: Distinguish securities by covered status.
- Multiple Transactions: Handle customers with many transactions per year.
High-Volume Processing
Financial services firms often file tens of thousands or hundreds of thousands of 1099s annually. BoomTax is built for this scale:
- Bulk Import: Upload large data files in standard formats.
- SFTP Automation: Automate recurring data transfers.
- Batch Validation: Validate entire file before submission.
- Fast Processing: Submit large batches to the IRS efficiently.
Enterprise Security
Financial services firms have strict security requirements. BoomTax meets them:
- SOC 2 Compliant: Audited security and availability controls.
- 256-bit AES Encryption: All data encrypted at rest and in transit.
- SSN/TIN Masking: Taxpayer IDs masked throughout the platform.
- Audit Logging: Complete audit trail of all activity.
- Role-Based Access: Granular permissions control.
All Features Included
Purchasing any BoomTax package will give you everything you need to complete your filing.
This includes:
- Federal E-File
- State E-File (ACA and 1099 CF/SF)
- Recipient Copy Download as PDF
- Official IRS Copy Download as PDF
- Unlimited Corrections
Bulk Import
Import many companies in one spreadsheet to simplify data input.
Data Validation
We validate your data against hundreds of IRS rules.
Hands Off E-File
No IRS registration or testing required.
Free Corrections
Make as many changes as needed for free.
How Financial Services Firms File with BoomTax
Import Your Data
You can import your data as Excel, XML, or use files from popular payroll providers like QuickBooks, UKG, ADP, and many more.
Step-By-Step Wizard
We walk you through the process with no complicated jargon. You can also live chat with a real person as you work on your filing for hands-on help.
E-File & Mail Employee Copies
Once your data is loaded, you can e-file and distribute employee copies in minutes.
Frequently Asked Questions
Dedicated to simplifying complex IRS regulations for employers, with expertise in ACA, 1099, and W-2 compliance.
BoomTax and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors prior to engaging in any transaction.