The Deadline to E-file Form (formType) is March 31, 2025.E-File Now
E-file Form 1099-S Online
Prepare and file 1099-S securely with TaxBandits to report real estate transactions, including sales or exchanges.
A Comprehensive Solution for Form 1099-S Filing
- Multiple Data Import Options
- Supports Federal, State Filing, and Corrections
- Deliver Recipient Copies by Mail or Online
- AI-powered Assistance & World-Class Support
Powerful PRO Features for
Tax Professionals
- Comprehensive Client Management
- Streamlined Team Management
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Effortless 1099-S Filing Starts Here!
Discover why TaxBandits is the top choice for filing your Form 1099-S online.
How to E-file 1099-S
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Information Required to E-file Form 1099-S Online
Filer Details
Name, address, and TIN
Transferor Details
Name, address, TIN, account number
Property Details:
- Closing date
- Gross proceeds
- Address (including city, state, and ZIP code) or legal description
- Real estate tax
Follow our instructions to learn how to fill out Form 1099-S. Start e-filing with TaxBandits today.
How to E-file Form 1099-S Online with TaxBandits
TaxBandits offers you flexible options to complete 1099-S filing. Simply choose your preferred data import method and file with ease.
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Step 1:
Enter Form Information
Fill out your 1099-S form by entering the required information in the respective fields.
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Step 2:
Enter Form 1099-S Information
Enter the required Form 1099-S information either manually or by bulk upload option.
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Step 3:
Choose Distribution Options
Choose how to deliver recipient copies: Postal Mail, Online Access, or Postal Mail+Online Access.
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Step 4: Review and Transmit
Review the 1099-S form summary and transmit it to the IRS.
We'll send you email updates regarding the status of your forms. You can also track the status directly from your Dashboard.
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Step 1:
Choose Import Method
Use our standard CSV template, upload your own file, or copy and paste the data.
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Step 2:
Review Import Summary
Our system will generate your 1099-S based on the imported data. You can review the data and make changes as needed.
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Step 3:
Choose Distribution Options
Choose how to deliver recipient copies: Postal Mail, Online Access, or Postal Mail+Online Access.
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Step 4:
Review and Transmit
Review the form summary and transmit the forms to the IRS and state agencies.
We'll send you email updates regarding the status of your forms. You can also track the status directly from your Dashboard.
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Step 1:
Turn ON Sage Cloud Services
Enable ‘Sage Cloud Service’ on the Subscription page and select ‘E-file’ under Accounts Payable.
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Step 2: Enable 1099 E-filing
Go to Configure Accounts Payable, check ‘Enable 1099 e-filing powered by TaxBandits’, and create a batch by selecting the tax year, vendor, and form type. Click ‘E-file’.
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Step 3: Authorize and Import Data
Log in or create a TaxBandits account, authorize access to your Sage 1099-S data, and view imported records.
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Step 4: E-file and Distribute
Review and e-file your 1099-S forms with the IRS through TaxBandits. Then, choose form distribution options — Postal Mail, Online Access, or both.
Ready to E-file Form 1099-S with the IRS?
How to E-file 1099-S
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Frequently Asked Questions to File 1099-S Online
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 buildings)
- Condominium units and its appurtenant fixtures and common elements (including land)
- Co-op housing corporation stock
- 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.
Who Must File Form 1099-S?
The responsibility for filing Form 1099-S falls on specific individuals or entities involved in real estate transactions. The following parties are generally required to file:
1. Real Estate Professionals and Settlement Agents
Entities responsible for closing real estate transactions must file Form 1099-S if they oversee the sale or exchange of:
- Land (improved or unimproved)
- Residential properties (homes, condos, apartments)
- Commercial properties
- Industrial properties
- Co-op sales
These professionals may include:
- Title companiess
- Real estate brokers or agents
- Escrow companies
- Closing attorneys
- If multiple parties are involved in closing, the "responsible party" is usually the person or company who prepares the closing statement and facilitates fund transfers.
2. Businesses Engaged in Real Estate Transactions
If a corporation, partnership, or sole proprietorship regularly buys and sells real estate, it must file Form 1099-S when selling property.
3. Lending Institutions (In Certain Cases)
Lenders involved in foreclosures and short sales may also have a reporting obligation. If a lender cancels debt as part of a sale, additional IRS forms (like 1099-C for debt cancellation) may also be required.
When is the deadline to file Form 1099-S for the 2024 tax year?
The filer must deliver recipient copies of Form 1099-S to the transferor by February 18, 2025. The due date to file with the IRS by paper is February 28, 2025, and the due date to file electronically is March 31, 2025.
Visit https://www.taxbandits.com/1099-forms/form-1099-s-deadline/ to know more about 1099-S Due dates
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 penalties for not filing Form 1099-S?
If you fail to file Form 1099-S within the specified deadlines, the IRS will impose penalties ranging between $60 and $660, depending on your business size and the delayed period.
To learn more about the 1099-S penalties, Click here
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.
Helpful Resources for 1099-S
What is Form 1099-S?
Form 1099-S Instructions
When is 1099 S due?
