It appears like, I need to fill in the Tax Form 1099 to file my income from Trading Stocks. I have an account with Scottrade which says, I will have the Form 1099 generated if I have IRS Reportable Transactions in my Account. So I was just wondering what are these IRS Reportable Transations and Non Reportable Transactions.
And here is what I gathered from different sources:
 Following transactions are considered as IRS Reportable transactions:

• Sell transactions
• Bond Redemptions
• Tenders, Mergers
• Dividends
• Interest
• OID
• Principal Paid on Unit Trusts or Corporate Bonds
• Royalty Trust Income

 
Following transactions are considered as IRS non-reportable transactions:

• Non-taxable interest (example: municipal bonds)
• Margin interest charged
• Buy transactions
• Option transactions (buys or sells)
• Non-taxable dividends
• Master Limited Partnership (MLP) distributions