Form 1099-S: Proceeds From Real Estate Transactions

VOIDPaper only: marks a form on a sheet that should be ignored. It is not a correction; a filed return is undone with a corrected return.How corrections workCORRECTEDChecked on a return that replaces one already filed. Which fields to repeat, and whether two returns are needed, depends on the error.Type 1 vs Type 2 correctionsFiler's nameWhat goes hereThe filer: generally the person responsible for closing, which is the settlement agent named on the Closing Disclosure. Name, address and phone must match the filer on Form 1096.Watch forA written designation agreement signed at or before closing can name who files. Only one person files, and only one Form 1099-S per transferor. Employees and agents never file in their own name; their employer or principal does.Check the filer blockBox 1: Date of closingWhat goes hereThe closing date. With a Closing Disclosure, that is the Closing Disclosure date.Watch forWithout a Closing Disclosure, use the earlier of the date title transfers or the date the economic burdens and benefits of ownership shift to the transferee.Click to open the row in the box tableFiler's street addressStreet or P.O. box of the filer, where the recipient can write about the form. Not matched against IRS records.Filer's room or suiteSecond address line, optional.Box 2a: Total gross proceedsWhat goes hereTotal gross proceeds, generally the sales price. It is the total of boxes 2b and 2c.ThresholdNot reportable if total consideration is certain to be under $600 for the whole transaction, or for a main home sold for $250,000 or less ($500,000 if married) with the seller's signed certification that the whole gain is excludable.Watch forDo not subtract commissions, deed preparation, advertising or legal costs. Other property or services are left out; check box 6.Click to open the row in the box tableCalendar yearThe year the payment was made, not the year you file. The 2026 forms cover payments in 2026 and are filed in 2027.The 2027 calendarFiler's city or townCity of the filer's address. A foreign filer gives the city and leaves the state blank.Filer's telephone numberRequired: a number the recipient can call about the form, with area code. The recipient copy must carry it.Box 2b: Cash gross proceedsWhat goes hereCash and consideration treated as cash: notes payable to the transferor, a mortgage paid off at settlement, and liabilities the buyer assumes or takes the property subject to. For a contingent payment sale, the maximum determinable proceeds.Watch forLeave out separately stated cash for personal property such as rugs or a washer and dryer. A like-kind exchange with no reportable proceeds: zero in box 2a and an X in box 6.Click to open the row in the box tableBox 2c: Digital asset grossWhat goes hereNew for 2026: the U.S. dollar fair market value of digital assets the transferor received or will receive for the real estate, valued under Treas. Reg. 1.6045-1(d)(5)(ii).Required whenYou know, or ordinarily would know, that digital assets were paid. A contract that provides for payment in digital assets counts as knowing.Watch forCash received through a processor of digital asset payments goes in box 2b, not here.Click to open the row in the box tableFiler's state or provinceTwo-letter state code for a U.S. address; the province for a foreign one.Filer's countryBlank or US for a domestic address; the country for a foreign filer.Filer's ZIP or postal codeFive or nine digits for a U.S. address; the foreign postal code otherwise.Filer's TINThe EIN the returns are filed under; it must match the filer name on the first line. A sole proprietor may use an SSN, with the owner's name first.Check the filer blockTransferor's TINWhat goes hereThe transferor's complete TIN, which you must request no later than closing. The transferor must certify it under penalties of perjury, on Form W-9 (U.S. persons), the right Form W-8 (foreign persons) or a substitute statement.Watch forKeep the W-9, W-8 or substitute for 4 years. You may truncate the TIN on the transferor's copy, never on the IRS copy.Match it before you fileBox 3: Address or legal descriptionWhat goes hereThe property address with city, state and ZIP code. Add a legal description (section, lot and block) if the address does not identify the property.Watch forFor timber royalties enter "Timber royalties"; for lump-sum timber payments enter "Lump-sum timber payment."Click to open the row in the box tableTransferor's nameWhat goes hereThe seller or other transferor of the real estate. File a separate Form 1099-S for each transferor, after asking them at or before closing how the gross proceeds are allocated.Watch forSpouses who held the property together count as one transferor, so one name and TIN is enough unless they give you an uncontested allocation. A partnership gets one form, not one per partner.Which name goes firstTransferor's street addressWhere the recipient copy is mailed. From the W-9 line 5; the IRS does not match it, but an undeliverable copy is a furnishing failure.Transferor's apartment or suiteSecond address line, optional. Keep it on its own line rather than appended to the street.Box 4: Buyer's part of real estate taxWhat goes hereFor a sale of a residence: the real estate tax paid in advance that is allocable to the buyer. You may take it from the Closing Disclosure.Watch forTaxes paid in arrears need not be reported here. Example: the seller paid a $1,200 annual tax in advance and closed after 9 months, so $300 is the buyer's part.Click to open the row in the box tableTransferor's city or townCity of the mailing address, from the W-9 line 6.Transferor's state or provinceTwo-letter state code; it also drives which state copies are needed when there is no withholding.State filing requirementsTransferor's countryBlank or US for a domestic address. A foreign address is a flag to check whether a W-8 and Form 1042-S were the right documents instead.Foreign payeesTransferor's ZIP or postal codeFive or nine digits for a U.S. address, or the foreign postal code.Box 6: Transferor received property or servicesCheck it whenThe transferor received or will receive property or services, other than cash, consideration treated as cash, or digital assets, as part of the price.Watch forThe value of that other property or services is not in gross proceeds. A like-kind exchange with no reportable proceeds gets zero in box 2a and this box checked.Click to open the row in the box tableAccount numberWhat goes hereYour account or file number for this transferor.Required whenYou have more than one account for the transferor and file more than one Form 1099-S for them. The IRS encourages an account number on every Form 1099-S.Box 7: Transferor is a foreign personCheck it whenThe transferor is a foreign person: a nonresident alien, foreign partnership, foreign estate or foreign trust.Watch forThe sale is still reported on Form 1099-S. The buyer's separate duty to withhold under FIRPTA is handled on Form 8288; see Pub. 515.Click to open the row in the box tableBox 8a: Code for digital asset receivedWhat goes hereThe nine-character digital token identifier issued by the Digital Token Identifier Foundation (DTIF) for the digital asset the transferor received or will receive.Watch forIf the asset is not registered with DTIF, enter 999999999.Click to open the row in the box tableBox 8b: Name of digital asset receivedWhat goes hereThe full name of the digital asset received or to be received.Watch forIf you entered a DTIF identifier in box 8a, the name must match the DTIF registration.Click to open the row in the box tableBox 8c: Number of digital asset units receivedWhat goes hereThe number of units of the digital asset the transferor received or will receive, to 18 decimal places.Click to open the row in the box tableBox 8d: Date digital asset receivedWhat goes hereThe date the digital asset was or will be received, in MM/DD/YYYY format.Watch forLeave it blank if the digital assets were received on a variety of dates.Click to open the row in the box table

Hover over a box for what goes in it; click to open its row in the table below. On a touch screen, tap the box to jump to the row.

Who must file Form 1099-S

File Form 1099-S for a sale or exchange of real estate: land, permanent structures, condominium units, stock in a cooperative housing corporation, and non-contingent interests in standing timber. The person responsible for closing the transaction (the settlement agent on the closing statement) files; if there is none, the mortgage lender, the transferor's broker, the transferee's broker, or the transferee, in that order. Timber royalties under a pay-as-cut contract are also reported here.

Beginning in tax year 2026, digital assets received in exchange for real estate are reported in box 2c.

Threshold: All amounts, every reportable real estate transaction unless an exception applies; a de minimis transfer that is certain at closing to total less than $600 is excepted, and so is a principal residence sale of $250,000 or less ($500,000 married) with the seller's written certification; certain royalty payments.

What is reported, box by box

Box titles follow the current revision of the form. The IRS reads the payer and recipient name, TIN, address, account number and the money boxes; the state boxes are for the state copy only.

Payments that are not reported on Form 1099-S

• Sale or exchange of a principal residence for $250,000 or less ($500,000 for married sellers) where the seller furnishes the written certification in Regulations 1.6045-4(c)(2)(i).
• Transferors that are corporations, governments, or volume transferors under the exemption, and certain transfers in full or partial satisfaction of a debt (1099-A or 1099-C instead).
• Gifts, bequests, financing and refinancing, and de minimis transfers under $600.

Due dates and extensions

An automatic 30-day extension is available on Form 8809, filed by the due date on paper or through IRIS; a second 30 days requires a hardship showing. Recipient statements can be extended 30 days on Form 15397, online or by fax only. 10 or more information returns of any type in aggregate must be e-filed (T.D. 9972); IRIS is the only IRS intake system from filing season 2027, FIRE having been retired. A payer who e-files the originals must e-file the corrections.

For 2026 forms filed in 2027: January 31 falls on a Sunday, so that deadline moves to Monday, February 1, 2027; February 28 also falls on a Sunday, so the paper deadline moves to Monday, March 1, 2027. March 31 (electronic) and March 15 are weekdays. February 28 does not become February 29 in a leap year. The compliance calendar has every date with the weekend shifts applied.

Withholding and TIN matching

Real estate transactions under section 6045(e) are excluded from backup withholding and are not eligible for the IRS TIN Matching program. The seller's TIN is still required: the settlement agent must solicit it (a Form W-9 or the certification in the regulations), and the seller must furnish it under penalty. An incorrect or missing TIN on a 1099-S carries the same IRC 6721IRC 6721Internal Revenue Code, Cornell LII penalty as any other return, defended the same way, by the solicitation record.

Foreign sellers are the separate FIRPTA question: the buyer withholds under section 1445 and files Forms 8288 and 8288-A, while the 1099-S still reports the sale with box 7 checked. The rates, the W-9 exception and the filing are on FIRPTA withholding: Forms 8288 and 8288-A.

Name and TIN errors on this form

Every information return is matched by the IRS on the first four characters of the payee's name (the name control) against the TIN. A mismatch produces a CP2100 line the following autumn and, unless the solicitation record is in order, a 972CG penalty the year after: $340 per return for 2026 forms filed in 2027 that are late or wrong, $690 for intentional disregard, with annual maximums of $4,191,500 ($1,397,000 for small filers) under Rev. Proc. 2025-32. The errors that recur on Form 1099-S:

• Married sellers. One 1099-S to the first-listed spouse, or two if they request separate reporting; the name control comes from the first name line.
• Trusts and estates as sellers. The trustee's or executor's name is not the transferor's name; use the trust or estate name and EIN (or the grantor's SSN for a grantor trust reporting under the owner).
• LLCs holding title. A single-member LLC that has not elected corporate status reports under the owner's name and TIN.

The name control calculator shows what the IRS will derive from a name line, and the CP2100 guide covers what to do when the notice arrives.

Recipient statements and substitutes

The recipient statement for Form 1099-S need not be a copy of the official form: a substitute may be combined with other account statements or reports, provided every required item is numbered and titled as on the official form, the tax year, form number and form name appear together, the recipient instructions are included, and, for the forms Pub 1099 lists, a telephone number with direct access to someone who can answer questions is shown. Publication 1179 (Rev. Proc. 2026-18) has the specifications; logos, slogans and advertising are not permitted on the statement itself. Statements may be furnished electronically only to a recipient who has affirmatively consented in a way that shows they can access the format, after the disclosures in Pub 1099 part M, and must stay posted through October 15. Copy B may show a truncated TIN (xxx-xx-1234); the IRS copy never may. The consent rules for furnishing statements electronically are under review: Notice 2026-4 asked for comments (due May 23, 2026) on whether the broker rules, and then the rules for every other payee statement, should change.

Corrections and state copies

A wrong amount, code or checkbox is a Type 1 correction: one corrected return with the CORRECTED box checked. The wrong form type is a Type 2 correction: a zeroed-out copy of the original plus a new original, in that order. A wrong or missing payee TIN or name is also Type 2 on paper, but IRIS corrects it in one step on the original record (Publication 5717). Publication 1099 also says you are not required to file a correction for a missing or incorrect TIN if you meet the reasonable-cause standard, only to use the right TIN on the next return, although the IRS encourages the correction. Details and the paper error charts are on the 1099 corrections page.

Form 1099-S is not in the Combined Federal/State Filing program, so any state that requires it must receive it directly. Requirements by state are on the state pages.

Questions people ask about Form 1099-S

Other federal forms

1042-S · 1097-BTC · 1098 · 1098-C · 1098-E · 1098-F · 1098-Q · 1098-T · 1098-VLI · 1099-A · 1099-B · 1099-C · 1099-CAP · 1099-DIV · 1099-G · 1099-INT · 1099-K · 1099-LPS · 1099-LS · 1099-LTC · 1099-MISC · 1099-NEC · 1099-OID · 1099-PATR · 1099-Q · 1099-QA · 1099-R · 1099-SA · 1099-SB · 3921 · 3922 · 5498 · 5498-ESA · 5498-QA · 5498-SA · 5498-TA · W-2G · 1099-DA · Comparison table

Sources: IRS Publication 1099 (2026), General Instructions for Certain Information Returns, which replaced the separate General Instructions starting with tax year 2026; Instructions for Form 1099-S (Rev. December 2026); Pub 1099 (2026) parts M and N; IRC 6045(e)IRC 6045Internal Revenue Code, Cornell LII; Regulations 1.6045-4. Threshold amounts are indexed for inflation from calendar year 2027; check IRS.gov/InflationAdjustment for the current year.