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Form 1099-S AR: What You Should Know
Form 1099-S (Rev. January 2022) — IRS Oct 13, 2023 — Filing Form 1099-S, if it had been due on a previous year's or future year's tax return, for transfers on or Dec 15, 2023 — Filing Form 1099-S after a sale or exchange of real estate or other transfer involving a transfer of a depreciable property, when the fair market value of property has change from the previous year's or future year's basis. This reportable property is not reportable if: The transferor is a related person, A person (who is in fact related) is the transferor's spouse, Parent, grandparent, child, or son, or Spouse of the transferor (Source — Publication 519, Form 1099-A and Other Information). Form 1099-S (Rev. December 2022) — IRS Jan 15, 2023 — Filing and payment due of the tax on the real estate, sale of real estate transfer, if you are a person who is the transferor's spouse, or any tax that has been withheld on the sale or exchange of an interest in a real estate property that is property on which there was a transfer of an interest for an acquisition or a sale or exchange. The form 1099-S does not have to be filed, but if you must file your tax return and there is a question of how you should report a sale or exchange involving a transfer of an interest in real property, you may be able to claim a deduction for the tax paid for the sales or exchanges, even if they may be reportable on your tax return. If the sale or exchange involved a trust, then you must include all the information on the trust statement for the particular year. For more information about the trust statement and how to view and print the tax and trust statements, refer to the IRS publication, Publication 519, Form 1099-A and Other Information. Form 1099-S (Rev. December 2024) — IRS Feb 1, 2023 — Paying the tax on the real estate transfer on or after Feb. 1, 2025. The 1099-S report is the final form to be filed in the course of carrying out a real estate transaction in the United States. This report form is also used by taxpayers to verify tax reporting when the taxpayers believe that any information in a 1099-B is incorrect.
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