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Overview of Form 1099-S

The 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), condominium units, co-op housing corporation stock, and any non-contingent interest in standing timber. Form 1099-S must be filed or e-filed with the IRS each year to report the real estate transactions managed by the filer during the previous year.

Form 1099-S Tax Filing Deadlines

1099-S Transferor copies

Recipient Copy Deadline

February 15, 2018

1099-S Paper copies

Paper Filing Deadline

February 28, 2018

1099-S Electronic copies

E-filing Deadline

April 2, 2018



Information Needed to File Form 1099-S

  • Filer Details: Name, Address, Telephone Number, Federal ID Number
  • Transferor Details: Name, Address, ID Number, Account/Escrow Number
  • Property Details: Closing Date, Gross Proceeds, Address, Real Estate Tax
IRS Form 1099-S 2017

Steps to E-file Form 1099-S

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  • Create or log into your TaxBandits account
  • Start a Form 1099-S return
  • Add filer details (Name, Address, Federal ID Number)
  • Add transferor details (Name, Address, ID Number)
  • Add transaction details (Closing Date, Gross Proceeds, Property Address, Account/Escrow Number, Buyer's Real Estate Tax)
  • Review your order and select whether you'd like forms mailed to your transferors
  • Add credit card info for the transmittal fee
  • E-file Form 1099-S with the IRS

Form 1099 State Filings

Depending on your state requirements file the Form 1099-S with the applicable state department. If the state is apart of the Combined Federal/State Filing, then the IRS will forward the original and corrected forms to the state free of charge.

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Reasons for Form 1099-S Filing Penalties

  • Failure to file machine readable paper forms
  • You have paper filed when you are required to e-file
  • Failure to include all the required filing information
  • Your information or data has been entered incorrectly
  • Failure to report a Taxpayer Identification Number (TIN)
  • You have reported an incorrect TIN

Form 1099-S Corrections

If your Form 1099-S 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.

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1099-S Extension Form 8809

Apply for tax extension form 8809

File Form 8809 before your original tax deadline and receive an automatic 30-day extension of time to file your 1099-S.

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Download the TaxBandits App!

E-file your 1099 Forms from your smartphone

The free TaxBandits mobile app is available in the App Store and Google Play! E-file your 1099 forms from the palm of your hand.

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Form 1099-S Resources

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