PATAX
Level 15
05-03-2023
08:37 AM
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1099-S for sale of residence has an incorrect address for rural residence sold, off by one digit. The tax parcel number is correct. Is this going to create a problem if IRS matches up address? The residence was sold by elderly widower on the installment sale method, and there will be a gain after deducting his basis from the sale price, and the $250,000 exclusion. Thanks for any help.
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Level 15
05-03-2023
08:41 AM
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They wont match up the address, theyre only looking at the money.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
dascpa
Level 12
05-03-2023
09:06 AM
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I agree no tax implications, but I'd have the client contact the Title company. It could be that the Deed and/or any other important legal document has an incorrect address also. Correcting titles down the road is a hassle, do it now.