How to E-file Form 1099-S Online for 2023 with TaxBandits?
What Information is Required to File IRS Form 1099-S Online?
- 1. Filer Details: Name, Address, Phone Number, TIN, Federal ID Number
- 2. Transferor Details: Name, Address, ID Number, TIN, Account/Escrow Number
- 3. Property Details: Closing Date, Gross Proceeds, Address, Real Estate Tax
Start filing your 1099-S tax returns with TaxBandits.
Businesses and Tax Professionals Trust TaxBandits’ Amazing Features
Quickly and easily e-file your State 1099 Forms along with any State Recon/Transmittal Forms that you may need.
Postal Mailing / Online Access
TaxBandits delivers your recipient copies by postal mail or secure online access portal.
Internal Audit Check
TaxBandits validates your Form 1042-S using the IRS business rules to improve accuracy during the filing process.
Make use of our bulk upload template and simplify the time taken in manually uploading your 1099 Form data.
Success Starts with TaxBandits
The Smart Choice of every 1099 Filers
Excellent Step by Step process and easy to go back and make edits....
- Luis Collazo
Very easy navigation going forward and backwards. I usually have trouble online with confusing instructions. Yours is very easy.
- Jay Polonsky
Easy and reasonably priced. Great customer service!
- Allen Cohen
I’m quite impressed, especially in comparison with other sites from the IRS list I reviewed as well. Well done. Thank you.
- Igor Mandryka
Very easy to find my way around, most help features are very good, customer service response has been exceptional for the price point.
- Jerry Morris
Work flow makes sense, navigation is easy, customer service is excellent with prompt call backs and thoughtful support.
- Michael Morris
Frequently Asked Questions
What is IRS Form 1099-S?
Form 1099-S: is an IRS information return used for reporting the sale or exchange of real estate properties. This form is used to report the sales of, improved or unimproved lands (including airspace), permanent structures (including residential, industrial, or commercial building), and condominium units and its appurtenant fixtures and common elements (including land, co-op housing corporation stock, and any non-contingent interest in standing timber).
Want to know how to complete Form 1099-S? Here are the step by step Form 1099-S Instructions.
When is the deadline to file Form 1099-S?
For 2023 Tax Year, February 15, 2024 is the due date to distribute Recipient copies, February 28, 2024 is the due date to paper file with the IRS and April 1, 2024 is the due date to file Form 1099-S electronically.
Visit https://www.taxbandits.com/1099-forms/form-1099-s-deadline/ to know more about 1099-S Due dates
Is It Required To File Form 1099-S With The State?
Depends on the state requirements, you may need to file your Form 1099-S. If the state is a part of the Combined Federal/State Filing, then your returns will be forwarded to the participating states on your behalf. However, some states mandate the direct filing of 1099-S returns with additional filing requirements that fall to you.
Check Your State Filing Requirements.
How to correct Form 1099-S?
If your 1099-S Form is rejected or you notice an error on an already filed 1099-S Form, you'll need to correct it as soon as possible. Corrections can be made electronically or on paper. If the error is part of the transferor's data, a corrected copy of Form 1099-S will need to be sent to them as well.
What are the Late Filing Penalties for Form 1099-S?
The IRS will issue penalties for filing 1099-S Forms for the following reasons:
- Failing to file machine-readable paper forms
- Paper filing when you are required to e-file
- Failing to include all the required filing information
- Information or data entered incorrectly
- Failing to report a Taxpayer Identification Number (TIN)
- Reporting an incorrect TIN
How to Get an Extension for IRS Form 1099-S?
Need more time in Filing your Form 1099-S? You can apply for an automatic 30-day extension by completing Form 8809 and filing it by your original due date. Your extension will be approved within an hour.
What is Form 1099-S?
Form 1099-S is used to report information for sale or exchange of real estate properties. Know more on What is Form 1099-S for 2023
Form 1099-S Instructions
Get to know the instructions to Form 1099-S instructions to report the IRA Contribution Information. Complete the instructions easily with TaxBandits.