Prepare e-file IRS 1099 NEC, MISC, INT, DIV, R, A & K for 2022 File 1099 Forms Online
File IRS 1099 S Form 2022
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Table of Contents
What is a 1099 S Tax Form Used for?
1099 s tax form used to report the sale or exchange of real estate properties. Specifically, used to ensure whether the sellers are:
- Reporting their capital gains on the tax return
- Paying the appropriate taxes to the Internal Revenue Service.
Who must File?
Any organization that involves in the sale of real estate properties needs to file 1099 S Online. As per the IRS norms, IRS form 1099 s to report proceeds made from real estate transactions i.e., sales of:
- Improved or unimproved lands including air spaces
- Permanent structures of residential, industrial, or commercial buildings
- Condominium units, appurtenant fixtures
- Land, cooperative housing corporation stock, non-contingent interest in standing timber.
What information do you need to file 1099
Gather the below information to e file 1099 s IRS tax return
| Filer’s Info | Filer’s name, address, telephone number, Taxpayer Identification Number |
| Transferor’s Info | Transferor’s name, address, TIN, Account, or an Escrow number |
| Property Info | Date of closing, gross proceeds, address, & buyer’s part of real estate tax |
Boxes Information
| 1099 S IRS return Boxes | Information |
| Box 1 | Enter the date of closing |
| Box 2 | Enter the cash receives from the sale or exchange of real estate property |
| Box 3 | Enter the exact address of the property. This includes city, state, & Zipcode |
| Box 4 | Enter “X” if in case the transferor will receive or receive property as a part of the consideration |
| Box 5 | Enter “X” if the transferor recognizes as a “foreign person” |
| Box 6 | Enter the buyer’s part of real estate tax |
Due Dates for 2022-23 Tax Year
Following are 1099 s tax return deadline information:
Issue IRS 1099 S recipient copy – February 16th, 2022 (mail)
Furnish Copy A to the IRS – February 28th, 2022 (paper form) March 31 st, 2022 (e-filing)