Effortless 1099-S Filing Starts Here!
Discover why TaxBandits is the top choice for filing your Form 1099-S online.
How to E-file 1099-S
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Information Required to E-file Form 1099-S Online
Filer Details
Name, address, and TIN
Transferor Details
Name, address, TIN, account number
Property Details:
- Closing date
- Gross proceeds
- Address (including city, state, and ZIP code) or legal description
- Real estate tax
Follow our instructions to learn how to fill out Form 1099-S. Start e-filing with TaxBandits today.
How to E-file Form 1099-S Online with TaxBandits
TaxBandits offers you flexible options for completing TaxBandits offers you flexible options to complete 1099-S filing. Simply choose your preferred data import method and file with ease.
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How to E-file 1099-S
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Frequently Asked Questions to File 1099-S Online
What is IRS Form 1099-S?
Form 1099-S is an IRS information return used for reporting the sale or exchange of real estate properties. This form is used to report the sales of:
- Improved or unimproved lands (including airspace)
- Permanent structures (including residential, industrial, or commercial buildings)
- Condominium units and its appurtenant fixtures and common elements (including land)
- Co-op housing corporation stock
- Any non-contingent interest in standing timber.
Want to know how to complete Form 1099-S? Here are the step by step Form 1099-S Instructions.
When is the deadline to file Form 1099-S for the 2024 tax year?
The filer must deliver recipient copies of Form 1099-S to the transferor by February 18, 2025. The due date to file with the IRS by paper is February 28, 2025, and the due date to file electronically is March 31, 2025.
Visit https://www.taxbandits.com/1099-forms/form-1099-s-deadline/ to know more about 1099-S Due dates
How to correct Form 1099-S?
If your 1099-S Form is rejected or you notice an error on an already filed 1099-S Form, you'll need to correct it as soon as possible. Corrections can be made electronically or on paper. If the error is part of the transferor's data, a corrected copy of Form 1099-S will need to be sent to them as well.
What are the penalties for not filing Form 1099-S?
If you fail to file Form 1099-S within the specified deadlines, the IRS will impose penalties ranging between $60 and $660, depending on your business size and the delayed period.
To learn more about the 1099-S penalties, Click here
How to Get an Extension for IRS Form 1099-S?
Need more time in Filing your Form 1099-S? You can apply for an automatic 30-day extension by completing Form 8809 and filing it by your original due date. Your extension will be approved within an hour.
Helpful Resources for 1099-S
What is Form 1099-S?
Form 1099-S Instructions
When is 1099 S due?