Form 1099-S - Proceeds From Real Estate Transactions

Instructions for Transferor

Account number. May show an account or other unique number the filer

For sales or exchanges of certain real estate, the person responsible for closing

assigned to distinguish your account.

a real estate transaction must report the real estate proceeds to the IRS and

must furnish this statement to you. To determine if you have to report the sale or

Box 1. Shows the date of closing.

exchange of your main home on your tax return, see the instructions for

Box 2. Shows the gross proceeds from a real estate transaction, generally the

Schedule D (Form 1040). If the real estate was not your main home, report the

sales price. Gross proceeds include cash and notes payable to you, notes

transaction on Form 4797, Form 6252, and/or the Schedule D for the

assumed by the transferee (buyer), and any notes paid off at settlement. Box 2

appropriate income tax form. If box 4 is checked and you received or will

does not include the value of other property or services you received or will

receive like-kind property, you must file Form 8824.

receive. See Box 4.

Federal mortgage subsidy. You may have to recapture (pay back) all or part of

Box 3. Shows the address or legal description of the property transferred.

a federal mortgage subsidy if all the following apply.

Box 4. If marked, shows that you received or will receive services or property

• You received a loan provided from the proceeds of a qualified mortgage bond

(other than cash or notes) as part of the consideration for the property

or you received a mortgage credit certificate.

transferred. The value of any services or property (other than cash or notes) is

• Your original mortgage loan was provided after 1990.

not included in box 2.

• You sold or disposed of your home at a gain during the first 9 years after you

Box 5. If checked, shows that you are a foreign person (nonresident alien,

received the federal mortgage subsidy.

foreign partnership, foreign estate, or foreign trust).

• Your income for the year you sold or disposed of your home was over a

Box 6. Shows certain real estate tax on a residence charged to the buyer at

specified amount.

settlement. If you have already paid the real estate tax for the period that

includes the sale date, subtract the amount in box 6 from the amount already

This will increase your tax. See Form 8828 and Pub. 523.

paid to determine your deductible real estate tax. But if you have already

Transferor’s taxpayer identification number (TIN). For your protection, this

deducted the real estate tax in a prior year, generally report this amount as

form may show only the last four digits of your TIN (social security number

income on the “Other income” line of the appropriate income tax form. For more

(SSN), individual taxpayer identification number (ITIN), adoption taxpayer

information, see Pub. 523, Pub. 525, and Pub. 530.

identification number (ATIN), or employer identification number (EIN)). However,

the issuer has reported your complete TIN to the IRS.

Form 1099-S - Proceeds From Real Estate Transactions - 2018 Page 4

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