Learn More About 1099-S

WHAT is a 1099-S?

Form 1099-S is used to report gross proceeds from the sale or exchange of real estate and certain royalty payments. A 1099-S form must be provided to the recipient and a copy mailed or e-filed to the IRS.

WHY do I file 1099-S?

The IRS requires that all income is reported by businesses and individuals or penalties could apply.

WHO needs to file 1099-S?

Organizations involved in the sale or exchange or real estate for money, indebtedness, property or services must use Form 1099-S. See the official IRS instructions.

WHEN do I file 1099-S?

1099-S forms are required to be mailed to the recipient by Jan. 31, and e-filed with the IRS by Mar. 31, or a paper copy mailed to the IRS by Feb. 28 each year.

1099-S Reporting Information

What to Report

Amount to Report

Gross proceeds from the sale or exchange of real estate. Generally $500 or more
Certain royalty payments. Generally $500 or more

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