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Get your taxes done using TurboTax
Hi Mary4K,
Thanks for the prompt response.
It seems you are indicating that I do not have to report the ORIGINAL 1099-S showing $55,000. I get that.
How about having to report the SECOND / CORRECTED 1099-S showing $0, Do I have to report this CORRECTED 1099-S on my 1040 Form?
Please see the note from the IRS 1099-S Form below:
"Copy B For Transferor
This is important tax information and is being furnished to the Internal Revenue Service. If you are required to file a return, a negligence penalty or other sanction may be imposed on you if this item is required to be reported and the IRS determines that it has not been reported."
‎April 15, 2025
11:12 AM