Industries 1099-B, 1099-DIV & 1099-INT E-Filing for Financial Services

At a Glance
Brokerages, investment firms, and wealth managers file high volumes of 1099-B for securities transactions, 1099-DIV for dividends, 1099-INT for interest, 1099-OID for bond discounts, and 1099-R for retirement distributions. BoomTax offers bulk processing, SOC 2 compliant infrastructure, and the scale financial services require.

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 - Proceeds from broker transactions
  • 1099-DIV - Dividends and distributions
  • 1099-INT - Interest income
  • 1099-OID - Original issue discount

Retirement & Employee Forms

  • 1099-R - Retirement distributions
  • W-2 - Employee wages
  • 1095-C - ACA for employees

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.

Book a Demo

Frequently Asked Questions

Yes, BoomTax supports Form 1099-B with all required fields including proceeds, cost basis, acquisition date, holding period (short-term/long-term), and covered/non-covered status.

BoomTax is built for enterprise-scale filing. We routinely handle financial services firms filing tens of thousands or hundreds of thousands of 1099 forms annually. Our bulk import and batch processing features are designed for high-volume operations.

Yes, BoomTax maintains SOC 2 Type II compliance. We can provide attestation documentation to your security and compliance teams upon request.

Yes, BoomTax offers SFTP access for enterprise customers who need to automate recurring data transfers. Contact our enterprise sales team to set up SFTP access.

Yes, we offer volume-based enterprise pricing for financial services firms. Contact our enterprise sales team to discuss your organization's specific needs and pricing.
Michaela Porterfield
Author
Michaela Porterfield
Content Writer at BoomTax
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Dedicated to simplifying complex IRS regulations for employers, with expertise in ACA, 1099, and W-2 compliance.

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