Hello Turbotax community,
A vacant lot I've owned for more than 30 years, was "sold" through a fraudulent transaction that used my name back in May of 2023 and the title company "closing the sale" submitted a 1099-S with my name for $55,000 to the IRS.
I reported the fraudulent sale to the County Sheriff Department in Dec of 2023 and the title company retained an attorney who investigated the fraudulent sale and last month, November of 2024, the attorney returned the property back to me through a Quit Claim Deed.
I'm currently trying to complete my 2023 Federal tax forms, but I don't know how to correct the 1099-S for $55k submitted by the title company to the IRS. I never saw the $55,000.
Is the title company responsible for submitting a corrected 1099-S showing a -$55,000 or $0 to the IRS?
Thank you all for your assistance in this matter,
A grateful and loyal Turbotax customer since 1993 🙂
