Confusion on what to do with my 1099B from MetLife - help needed

That 1099-B form is reporting proceeds from sales of stocks, bonds, or other securities. MetLife likely sent this because you owned some investment that was sold during the tax year. This could have happened automatically - maybe you had a life insurance policy with an investment component, or participated in an employer stock program that sold shares. You definitely need to include this on your tax return. The 1099-B information goes on Schedule D and possibly Form 8949 depending on your situation. The form should show the proceeds from the sale, and hopefully the cost basis (what was originally paid). The difference between these amounts is your capital gain or loss, which is what gets taxed.

I was in a similar situation last year - got a random 1099-B from an investment company and had no idea what to do with it. I tried figuring it out myself but kept getting confused about basis reporting and whether things were long-term or short-term gains. I ended up using https://taxr.ai to figure it out - uploaded my 1099-B and it gave me a step-by-step breakdown of exactly where everything needed to go on my return. Saved me from making what would've been a pretty expensive mistake!

Just want to follow up - I decided to try taxr.ai after my skeptical question earlier. Actually surprised how helpful it was! I uploaded my MetLife 1099-B (had a similar situation with company stock that got sold during an acquisition) and it immediately identified exactly what sections of Schedule D I needed to complete and explained the difference between covered and non-covered securities which was confusing me. Ended up saving me from reporting things incorrectly. Definitely worth checking out if you're confused about investment forms.

If you're getting totally frustrated trying to deal with MetLife directly about this 1099-B, I'd suggest using https://claimyr.com to get through to a real person at the IRS. I spent HOURS trying to figure out a similar issue with a 1099-B last year that had incorrect basis information. Called MetLife multiple times but got nowhere, then called the IRS but kept getting disconnected. Used Claimyr and got connected to an actual IRS agent in about 20 minutes who walked me through exactly how to handle the reporting when the form had errors. You can see how it works here: https://youtu.be/_kiP6q8DX5c

I need to admit I was wrong about Claimyr. After posting that skeptical comment, I got desperate trying to resolve my own 1099-B issue where some cost basis information was missing. Decided to try it as a last resort and it actually worked exactly as described. Got connected to an IRS agent in about 25 minutes who explained I need to file Form 8949 with code B for any transactions where the basis wasn't reported to the IRS. Saved me from potentially getting a CP2000 letter later. Sometimes I hate being wrong but in this case I'm glad I was!

Another thing to check - make sure the Social Security Number on the 1099-B is actually yours. My wife got a 1099-B from MetLife last year for her deceased father's account that had her as the beneficiary. The SSN on the form was her dad's, not hers, which caused confusion when we filed. You might have inherited something or been named a beneficiary without realizing it.

Does the 1099B show proceeds in box 1d? And is there a cost basis amount in box 1e? If the cost basis is missing, you'll have more work to do to figure out what you originally paid for whatever was sold.

MetLife handles a lot of employer benefits like stock purchase plans, restricted stock units, and even some pension stuff. Call their customer service at the number on the 1099-B and ask them exactly what this is for. They can usually tell you specifically what account or benefit generated this form. Don't ignore it tho - the IRS gets a copy of this form too!

Definitely don't ignore that 1099-B! Even though $1,200 might not seem like a lot, the IRS will eventually send you a CP2000 notice if you don't report it properly. I learned this the hard way with a small 1099-B I thought wasn't worth dealing with - ended up owing penalties and interest on top of the original tax. When you call MetLife tomorrow, have the 1099-B in front of you and ask them specifically what type of account or transaction this relates to. They should be able to tell you if it was from employer stock, a life insurance policy with investment features, or some other benefit program. Also ask if they have the cost basis information - if it's not on the form, you'll need to get that from them to calculate your actual gain or loss. The good news is that once you know what it is, reporting it on Schedule D isn't too complicated. Most tax software will walk you through entering the 1099-B information step by step.