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Benefits of Filing 1099-S online With TaxBandits
Get Instant Filing Status
Receive real-time updates on your 1099-S filings via email or track them anytime from your dashboard. Stay informed every step of
the way.
Recipient Copy Distribution
Distribute 1099-S recipient copies via postal mail or online access. You can also download copies in your preferred format and mail it to your recipient on
your own.
Address Book
Import business and recipient information from your Address Book for quick, error-free submissions across various forms like BOIR, Payroll, 94x forms, W-9, W-2, ACA,
and more.
Bulk E-Filing
Easily file multiple returns with TaxBandits. Import your data using your own templates in CSV or Google Sheets, or use our standard templates. Download here.
Internal Audit Check
TaxBandits internal audit check ensures that your Forms are validated through IRS business rules. Any errors identified will be listed and you will be prompted to fix
those instantly.
TIN Validation
Ensure accuracy by validating your payer TIN against the IRS database. This helps you e-file your 1099-S correctly and avoid
IRS B-Notices.
IRIS Business Validation
Guarantee the accuracy of your tax returns with our IRIS Validation feature, which automatically detects and corrects errors and inconsistencies before submission.
BanditComplete
Simplify the distribution of recipient copies. TaxBandits provides your recipient with both physical and electronic copies of the forms to ensure recipients receive their documents reliably and
on time.
Save Form Drafts
Complete and File your 1099-S returns at your own pace. TaxBandits lets you save your work as a draft. Easily pick up and continue your filing whenever
you're ready.
7 years of Record keeping
All Form copies are stored on our secure HIPAA-compliant server for up to 7 years. You can always log In to your TaxBandits account and download or print the Form copies at
any time.
Dedicated Support
Have any questions? Our dedicated team of experts is always here to assist you in every way possible via phone, email, or live chat.
How to E-file Form 1099-S Online for 2023
with TaxBandits?
Start by selecting Form 1099-S from your dashboard. With TaxBandits, you can file this form for both the current and previous tax years.
Select ‘Manual entry’ and enter the required information on Form 1099-S. You can save your progress by clicking “Save as draft” and continue from where you left off.
You can choose state filing and select how you'd like to distribute recipient copies—by mail, online access, or with the BanditComplete option, which offers both.
Review the information entered on Form 1099-S and make any necessary changes.
After reviewing, transmit the completed Form 1099-S to the IRS and state.
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.
Exclusive Pro Features designed for Tax Professionals
Streamline tax filing and enhance your workflow with powerful features tailored for tax professionals.
BanditCollab (Team Management)
Add unlimited team members to streamline your workflow. Assign your staff roles—Preparer, Approver, and Transmitter—based on their filing responsibilities.
BanditConnect (Client Management)
Communicate and securely share files with your clients using BanditConnect. Customize the secure portal to reflect your branding.
Custom Reports
Gain insights into staff activities and client filings with detailed reports. Enhance decision-making with in-depth analytics.
Powerful API to Automate Your 1099-S E-filing Process
Our robust API helps you automate your 1099-S filing and distribution process right from your existing systems. You can seamlessly integrate our 1099 API with your software or portal, facilitating automation while minimizing manual tasks and ensuring accuracy.
Learn moreSuccess 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
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- 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
Click here to know about 1099-S Penalties
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
