dascpa
Level 12
03-23-2023
08:22 PM
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If it's a reputable Title Company they reported it to the IRS on the 1099-S. Your client may not understand what the form is, lost it, etc. It's better to be safe than to play penpals with the IRS after the client's heart attack of getting a notice showing tons of tax due. I report 100% of all residence sales.