Net proceeds (the $20K, etc), has absolutely nothing to do with the 1099-S issuance. And as for the issuance of the 1099-S, they are not necessarily issued in January of the following year. I have found it's a pretty common practice to issue a "Substitute Form 1099-S" inside the closing documents at the actual date of closing...and people never notice them until you make them go through that mass of paperwork.
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