The IRS mandates e-filing when you file 10 or more 1099s form for the 2023 tax year.
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How to E-file Form 1099-S Online for 2023 with TaxBandits?

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Choose Form 1099-S

Select the Form 1099-S, choose the appropriate tax year and proceed. With TaxBandits you can file your Form 1099-S for current and previous tax years.

Enter Form 1099-S Details

Enter the required information on the Form 1099-S either manually or bulk upload through custom CSV/Excel templates.

Review Form 1099-S Information

Review the information entered on the Form 1099-S and make necessary changes
if needed.

Transmit your Form 1099-S to the IRS

After reviewing the form, transmit the completed Form 1099-S to the IRS and State.

Deliver Recipient Copy(Online/Postal)

You can opt to distribute your recipient copies either through postal mailing or secure online portal.

What Information is Required to File IRS Form 1099-S Online?

TaxBandits for Every Business 2023 IRS Form 1099-S
  • 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.

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State Filing

State Filings

Quickly and easily e-file your State 1099 Forms along with any State Recon/Transmittal Forms that you may need.

Postal Mailing / Online Access

Postal Mailing / Online Access

TaxBandits delivers your recipient copies by postal mail or secure online access portal.

Internal Audit Check

Internal Audit Check

TaxBandits validates your Form 1042-S using the IRS business rules to improve accuracy during the filing process.

Bulk Upload

Bulk Upload

Make use of our bulk upload template and simplify the time taken in manually uploading your 1099 Form data.

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The Smart Choice of every 1099 Filers

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.

Learn More about Form 1099 Extensions.

Frequently Asked Questions
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