1099 s

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  • Super Mom
    Senior Member
    • Jun 2007
    • 1151
    #1

    1099 s

    I've never seen this before. This would be an excluded sale, is there anything I need to fill out to keep them from having problems with the IRS.
    Tags: None
    • kathyc2
      Senior Member
      • Feb 2015
      • 1945
      #2
      Yes. If a 1099S is issued it needs to be shown on return. If 121 exclusion applies use code H on 8849 to exclude any gain.

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        • kamckinley
          Senior Member
          • Apr 2008
          • 178
          #3
          I have had several of these this year for some reason. Ironically the real estate transactions that should have a 1099-S don't and those that shouldn't have a 1099-S do! But yes, in and out on Sch D to avoid a CP notice.

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