1099-S question

[PATAX]

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.

[Just-Lisa-Now-]

They wont match up the address, theyre only looking at the money.

[IRonMaN]

Yup, as long as the correct sales amount shows up on the return you won't have any issues.

[dascpa]

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.

[BobKamman]

I'd contact the buyer and tell them to check with the escrow agent.  It's more their problem, and they are probably more likely not to accept false assurances.