Can I have a negative payment amount? | FIRE

Each payment amount must contain U.S. dollars and cents. The right-most two positions represent cents in the payment amount fields. The 1099FIRE software will strip out dollar signs, commas and decimal points.

Negative payment
You can only report a loss on Form 1099-B, 1099-OID, or 1099-Q. A negative amount is indicated by placing a “-” (minus) sign in the left-most position of the payment amount field.

Large payment amounts
If payment amounts exceed the 12 field positions allotted, a separate Payee “B” Record must be submitted for the remainder. The files cannot be exactly the same to avoid duplicate filing discrepancies. For example: For Form 1099-K reporting 12,000,000,000.00, the first “B” record would show 8,000,000,000.00 and the second “B” record would show 4,000,000,000.00. One substitute Form 1099-K may be sent to the recipient aggregating the multiple Forms 1099-K.