File Form 1099-S online with our easy-to-use tax filing software
Our exclusive, time-saving features will help you quickly and securely file Form 1099-S with the IRS on time.
E-file Form 1099-S Now
We are now accepting Form 1099-S for the 2023 tax year. E-file Now
Due Dates for Filing 1099-S Form for Tax Year 2023
Recipients
You must issue copies of Form 1099-S to your recipients by February 15, 2024
Paper File
If paper filing Form 1099-S, it's due to the IRS by February 28, 2024
Form 1099-S - Proceeds From Real Estate Transaction Overview
What is Form 1099-S?
Form 1099-S is used to report the entire proceeds from a real estate sale or exchange and certain royalty payments. 1099 Forms must be filed with the IRS and issued to the recipient.
Who Must File Form 1099-S?
Those who sell or exchange real estate are required to file Form 1099-S to report the capital gains on the transaction as taxable income.
Visit, https://www.taxbandits.com/1099-forms/efile-form-1099-s-online/ for more information.
Learn MoreHow To File Form 1099-S?
Paper Filing
You can take the time to find the correct 1099-S Form, file it by hand, then mail it to the IRS. The IRS will not notify you once your form has been received.
E-Filing
The IRS recommends e-filing as the best method. Electronic filing is the most preferred method for filing 1099-S forms with the IRS. E-filing allows the IRS to process 1099-S tax returns more quickly than paper filing, and avoid common filing errors, Paper works.
E-Filing Advantages
When E-filing 1099-S, you'll complete your form with extreme speed and accuracy, avoid with filing errors. It's much easier and much more convenient to save time. Plus, once the IRS receives your form you will be instantly notified via email.
This is a great way to reduce the hassle of paperwork because all of your forms will be stored online in one convenient location. You can access past records at anytime to print or reference.
Information Required to File Form 1099-S
In order to complete Form 1099-S, you must provide the following information:
- The filer details such as name, address, contact number, federal ID number
- The transferor details such as name, address, ID number, account/escrow number
- Property details including closing date, gross proceeds, address, real estate tax
- Get to know the complete Form 1099-S Instructions.
Other Supported Forms
Features of Filing Form 1099-S Online
FileForm1099S.com is a cloud-based solution for filing Form 1099-S online. Check out our exclusive e-filing features.
Bulk Upload
Do you have multiple 1099-S to file with the IRS? Well, don't waste time adding them in one-by-one. Use our bulk upload feature to instantly upload all of your 1099-S information at once into our software!
Postal Mailing
Don't worry about sending copies of your forms to your recipients, we will handle it all for you. Just use our postal mailing feature to have us print and mail out hard copies of your returns! We will send them wherever they need to go.
Print Center
You can easily print copies of your 1099 forms at any time with our print center. Your forms will be available to review, print, and reference at any time.
Steps to File Form 1099-S Online
E-file 1099 Forms with our help is easy! Just refer to the following steps.
- Step 1: Create your account for free with your email address and personal password. Then select "Form 1099-S".
- Step 2: Enter the payer details including the name, EIN, and address.
- Step 3: Enter the recipient details such as the name EIN/SSN, and address.
- Step 4: Enter federal and state information such as the payer state number and taxes withheld.
- Step 5: Review your information, pay for your form, and transmit it directly to the IRS.
Form 1099-S Extension
If you need more time to file Form 1099-S then all you have to do is File Form 8809. By Filing extension Form 8809 by your original tax deadline you will automatically receive a 30-day extension. It's that easy!
Form 1099-S Penalties
If you fail to file Form 1099-S you will have penalties to face. The penalty amount varies based off of your organization's size and how late your return is. For example, penalty amounts range from $50 to $1,500,000.
Frequently Asked Questions on Form 1099-S
- What is the filing deadline for 1099-S?
- How to quickly add 1099-S recipients in manual flow?
- More states to report for recipients in 1099-S?
Helpful Resource
Form W-9: Request for Taxpayer Identification Number and Certification
Invite your vendors to complete and
e-sign W-9
Form W-9 is an IRS tax form used by an individual or entity to request a person's name, address, Taxpayer Identification Number (TIN) and certification from a hired contractor or vendor to e-file the 1099 information returns. IRS Form W9 is known as Request For Taxpayers Identification Number and Certification Form. With TaxBandits online portal, employers can request form W9 online and manage all W-9 forms at one place securely. Sign up now and
request the first FIVE Form W-9 for FREE.
Contact Us
If you need any assistance with Form 1099-S reporting, we're here to help! Please give us a call, reach us via live chat, or take advantage of our 24/7 email support.
Email: support@TaxBandits.com
Phone: 704.684.4751