Confused about processing 1099B from MetLife - what to do with this form?

Hey everyone, I got a 1099B in the mail from MetLife and I'm totally lost on what to do with it. I've never received one before and I'm not sure how it impacts my taxes. I don't remember having any investments with them but apparently there was some kind of transaction last year? The form shows some numbers and dates but I honestly don't know what any of it means or where it goes on my tax return. I normally just file a simple return with my W-2s. Does anyone have experience with these MetLife 1099B forms and can explain what I'm supposed to do with it? I don't want to mess up my taxes or get in trouble with the IRS for missing something. Thanks in advance!

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18 comments

Amina Toure

•8M

The 1099-B reports proceeds from broker and barter exchange transactions. Usually, these forms are sent when you've sold stocks, bonds, mutual funds, or other securities during the tax year. MetLife likely issued this because you had some kind of investment with them that was either sold or transferred. This could be from an employer-sponsored plan, an insurance policy with investment features, or even a forgotten investment account. Sometimes these forms are generated when a company you owned stock in was acquired by another company. You'll need to report this on Schedule D of your tax return, and possibly Form 8949 depending on the specifics. Most tax software will walk you through entering the information from your 1099-B. Make sure you enter all the details exactly as they appear on the form, including dates acquired, dates sold, cost basis (if provided), and sales proceeds.

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Amina Toure

•8M

Yes, even small amounts need to be reported. The IRS receives a copy of every 1099-B issued to you, so they'll expect to see that transaction on your return. The good news is that it's pretty straightforward in most tax software. When you indicate you have investment income, the software will prompt you to enter the details from your 1099-B and will automatically complete Schedule D and Form 8949 for you. No need to manually fill out these forms if you're using software.

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Natasha Volkova

•8M

I went through the exact same confusion with a MetLife 1099-B last year. After struggling to figure it out myself, I ended up using taxr.ai (https://taxr.ai) and it was honestly a game changer. You just upload your tax documents and it analyzes them and explains exactly what they mean and where everything needs to go on your return. For my MetLife 1099-B, it turned out to be related to an old workplace life insurance policy that had some kind of investment component I didn't even know about. The tool explained that the basis was already reported to the IRS (box 3 was checked) so it was actually pretty simple to enter. Saved me hours of research and stress!

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Natasha Volkova

•8M

The information is very accurate - it's basically analyzing your documents and explaining what the IRS already knows about your situation. It's not giving creative tax advice, just helping you understand what your forms mean and where that information needs to go on your return. It works with pretty much all common tax documents - W-2s, all types of 1099s, 1098s, K-1s, etc. I actually used it for a K-1 I received too and it broke down all those complicated boxes into plain English. It even flags things that might be mistakes or issues you should look into further.

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Emma Davis

•8M

Just wanted to update after trying taxr.ai with my MetLife 1099-B and other confusing forms. Seriously, where has this been all my life??? It explained that my MetLife form was from an old variable life insurance policy that had an investment portion. Turns out when the policy matured, they issued the 1099-B for the investment gains. The system walked me through exactly where to enter everything in TurboTax. Even better, it caught a mistake on my 1099-B where MetLife hadn't included my cost basis correctly. Saved me from either overpaying or having to deal with an IRS notice later. Definitely recommend for anyone else struggling with unexpected tax forms!

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CosmicCaptain

•8M

If you're having trouble understanding your 1099-B and need to talk to someone at MetLife about it, good luck getting through to them. I spent literally DAYS trying to reach their tax department last year. After wasting hours on hold, I discovered Claimyr (https://claimyr.com) from a YouTube video (https://youtu.be/_kiP6q8DX5c) and it was absolutely worth it. They got me through to a MetLife agent in about 15 minutes when I had been trying unsuccessfully for days. The MetLife rep was able to explain exactly what investments the 1099-B was referring to (in my case, it was from an old employer's group life policy that had some kind of cash value). They even sent me a detailed breakdown that made filing much easier.

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CosmicCaptain

•8M

It works because they use technology that continuously redials and navigates the phone trees until they get through to a representative. When someone finally answers, they connect the call to you. It's not skipping the line exactly - they're just handling the frustrating part of getting through the phone system. They definitely don't keep you on hold themselves. The way it works is you get a notification when they've reached a human representative, and then you join the call. I was skeptical too, but it literally saved me hours of frustration. The MetLife tax department in particular seems impossibly difficult to reach during tax season, so having something that handles the redial process was totally worth it.

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Isabella Ferreira

•8M

I have to eat my words about Claimyr. After my skeptical comment, I decided to try it myself since I was getting nowhere with MetLife about a similar 1099-B issue. I figured it would be a waste, but I was desperate after spending 3 hours on hold across 2 days. To my complete shock, I got connected to a MetLife tax specialist in about 20 minutes. The agent explained that my 1099-B was from a small investment account that was part of a workplace life insurance policy from 10 years ago. When the company switched providers, the investment portion was liquidated, triggering the 1099-B. They're sending me the full transaction history so I can properly report it. Would have taken me weeks to figure this out on my own if I ever got through at all!

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Ravi Sharma

•8M

You can absolutely still handle this in TurboTax or similar software. The 1099-B might seem intimidating, but the tax software walks you through entering the information step by step. Most programs have specific screens for entering 1099-B data that match the boxes on the form. If your situation is otherwise straightforward, paying a CPA would probably be overkill for just one 1099-B. The key information you need to enter is the description of property sold, date acquired (if shown), date sold, proceeds (sales price), and cost basis (if shown). The software will calculate any gain or loss and place it on the proper forms.

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