Skip to Main Content
State of California Franchise Tax Board

California Backup Withholding on Proceeds from Broker and Barter Exchange Transactions (1099-B)

We issued the following letters concerning California backup withholding on proceeds from broker and barter exchange transactions (1099-B) to our stakeholders:

Composite statement for Form 592-B

"Composite statement" means one in which two or more required IRS statements (for example, Forms 1099-B and 1099-DIV) are furnished to the recipient on one document.

When brokers report Form 592-B information on a composite statement, they must follow specific requirements in conformity with Internal Revenue Code (IRC) Section 6045. Brokers must provide the composite statement to the recipient on or before February 15.


Chat with an FTB Representative