Rev. Proc. 83-49

PART A. GENERAL

SECTION 1. PURPOSE

.01 The purpose of this revenue procedure is to supplement existing requirements for reproducing paper substitutes of Forms 1099 by adding Optical Character Recognition (OCR) specifications for Form 1099-B, Statement for Recipients of Proceeds from Broker and Barter Exchange Transactions.

.02 This revenue procedure supplements Rev. Proc. 83-26, 1983-1 C.B. 693.

SEC. 2. APPLICATION FOR APPROVAL OF SUBS FORMS 1099B, Copy A

.01 Paper substitutes for Forms 1099-B which totally conform to the specifications contained in this procedure may be privately printed without prior approval from the Service.

.02 Proposed substitutes not conforming to these specifications must be submitted for consideration by the Service according to instructions in Rev. Proc. 83-26.

SEC. 3. INSTRUCTIONS

.01 All definitions and instructions in Part A of Rev. Proc. 83-26 which apply to Forms 1099-INT and Forms 1099-DIV also apply to Forms 1099B.

.02 Rev. Proc. 83-26 instructions for magnetic media filing of Forms 1099 also apply to Forms 1099-B.

.03 All substitute form format requirements in Part B of Rev. Proc. 83-26 which exclude Forms 1099-INT and Forms 1099-DIV also exclude Forms 1099-B.

PART B. SUBSTITUTE FORM FORMAT REQUIREMENTS FOR FORMS 1099-B

SECTION 1. GENERAL

.01 All Form 1099-DIV and Form 1099-INT format requirements in Part C of Rev. Proc. 83-26 also apply to Forms 1099-B.

.02 The form identifying number for Forms 1099-B is "7979"

.03 The specifications for Copy A of Forms 1099-B are provided in Exhibits A and B.

SEC. 2. EFFECT ON OTHER REVENUE PROCEDURES

Rev. Proc. 83-26 supplemented.

[Editor's note: Exhibits A and B illustrate physical specifications of the forms discussed. These illustrations are not suitable for electronic reproduction.]