Form 1099-S, Proceeds from Real Estate Transactions
Form 1099-S reports the gross proceeds from a sale or exchange of real estate, usually prepared by the closing agent. Fill in the official IRS PDF below.
This is the genuine IRS PDF, unmodified. Source: IRS official page.
What is 1099-S?
Form 1099-S, Proceeds from Real Estate Transactions, reports the sale or exchange of real estate: land, homes, commercial buildings, condominium units, and certain timber and easement transactions. It shows the closing date, the gross proceeds, and the property’s address or legal description.
The person responsible for closing the transaction, often the title or escrow company, generally files it. Sellers use the reported proceeds when figuring gain or loss on their return; a primary home sale may qualify for the home sale exclusion, and a seller can be exempt from the form entirely with a written certification.
Who files 1099-S?
- Settlement agents, title companies, and attorneys responsible for closing a real estate transaction
- Mortgage lenders or the buyer’s or seller’s broker when there is no closing agent, under the ordering rules in the instructions
- Persons reporting timber royalties paid under a pay-as-cut contract
- Sellers receive the form and use it to report the sale on their return
How to fill out 1099-S
- Enter the filer’s name, address, and TIN, then the transferor’s (seller’s) TIN, name, and address.
- Report the closing date in box 1 and the gross proceeds in box 2.
- Describe the property in box 3 with its address or legal description.
- Check box 4 if the transferor received property or services as part of the consideration, and box 5 if the transferor is a foreign person; enter the buyer’s part of real estate tax in box 6.
- Download the PDF, furnish the transferor’s copy, and file Copy A with the IRS electronically or on official scannable stock.
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Frequently asked questions
I sold my home. Do I owe tax on the box 2 amount?
Box 2 is gross proceeds, not gain. You subtract your cost basis and selling expenses, and a main home sale may exclude a large amount of gain if you meet the ownership and use tests. Report the sale on Form 8949 and Schedule D when required.
Why did the closing agent ask me to sign a certification?
For a principal residence, a seller can certify that the full gain is excludable. With that certification on file, the closing agent generally does not have to issue a 1099-S at all.
Who files the 1099-S when there is no title company?
The instructions set an order of responsibility: generally the closing attorney or agent first, then the mortgage lender, then brokers, then the buyer. Whoever is first in the chain files.