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grossie
Level 5
February 20, 2020
Question

Sale of Home

  • February 20, 2020
  • 5 replies
  • 20 views

When all other requirements are met,  must you report the sale of a personal residence even though a

Form 1099-S is not received?

 

This topic has been closed for replies.

5 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
February 20, 2020

If youve got the information, may as well report it.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    sjrcpa
    sjrcpa
    Level 15
    February 20, 2020

    No, but how do you know a 1099-S was not issued? I've been burned - having IRS send a nastygram about not reporting a sale that qualified for the 121 exclusion. I now report all sales even if excludable.

    The more I know the more I don’t know.
      grossieAuthor
      Level 5
      February 20, 2020

      Thank you.

      clr600
      clr600
      Level 7
      February 21, 2020

      More than likely the Hud 1 statement has wording to the effect in leu of a 1099 this information is being reported to the IRS

        Mimbreno
        Mimbreno
        Level 4
        February 21, 2020

        I have frequently seen the 1099-S be included with the closing papers and the taxpayer does not recognize it as a needed tax document.

         

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