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    • Created with Sketch. Intuit Biz e-filing closure on December 21 at 6:00PM PST. View more ProSeries Hot Topics here.
    Created with Sketch. Intuit Biz e-filing closure on December 21 at 6:00PM PST. View more ProSeries Hot Topics here.
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    Sale of Home

    grossie
    Level 5
    ‎02-20-2020 05:00 PM

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

    Form 1099-S is not received?

     

    0 Cheers

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    5 Comments 5
    Just-Lisa-Now-
    Level 15
    Level 15
    ‎02-20-2020 05:03 PM

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


    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    sjrcpa
    Level 15
    ‎02-20-2020 05:07 PM

    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.
    grossie
    Level 5
    ‎02-20-2020 05:18 PM

    Thank you.

    0 Cheers
    clr600
    Level 8
    ‎02-20-2020 07:40 PM

    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
    Level 3
    ‎02-20-2020 09:00 PM

    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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