Form 1099-S, Proceeds from Real Estate Transactions
Updated: 3/16/2013
Article ID: GEN12275
Form 1099-S is used to report sales or exchanges of real estate. Although most people only get a Form 1099-S when they sell their home, you may also get the form when you sell any of the following.
- Improved or unimproved land, including air space.
- Inherently permanent structures, including any residential, commercial or industrial building.
- A condominium unit and its appurtenant fixtures and common elements, including land.
- Stock in a cooperative housing corporation.
Mobile homes that are not permanently fixed to a foundation are not included in the reporting requirements for Form 1099-S. You should receive this form by February 1, of the current year.