The 1099-S Form At a Glance
What is the 1099-S form?
1099-S forms report profits acquired from selling or exchanging real estate and some royalty payments.
When should a 1099-S form be filed?
Recipients must receive 1099-S forms via mail, on or before the last day of January, and e-filed with the IRS by March 31, annually.
Who should file a 1099-S form?
Real estate brokers and professionals dealing with property transactions are required to file a 1099-S form.
Where Should 1099-S forms be Filed?
1099-S forms must be filed to the IRS.
Why is it Important to File 1099-S Forms?
Sale or Exchange for Money
Property or services with ownership interest at present or in the future, including:
Non Contingent interest in standing timber