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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."