Form 1099-S
Sale or Exchange of Real Estate
Sale or Exchange of Real Estate
A 1099-S form, “Proceeds from Real Estate Transactions,” is used in the United States to report the sale or exchange of real estate to the Internal Revenue Service (IRS). This form is part of the 1099 series, which are used to report various types of income that individuals may receive throughout the year other than salary from an employer. The responsibility to file a 1099-S form typically falls on the “person responsible for closing the transaction.” This form is part of the 1099 series, which are used to report various types of income that individuals may receive throughout the year other than salary from an employer. It is an essential document for tax reporting purposes, ensuring that interest income is correctly reported to the IRS.
Per the IRS, use Form 1099-S to report the sale or exchange of real estate.