RayW1
New Member

Get your taxes done using TurboTax

You have likely receive the "official" 1099-S.  There is no requirement the issuer wait for a period of time before issuing the 1099-S.

In the closing statement, either seller or the buyer paid the real estate taxes to the sales date.  As real estate taxes are paid in arrears, the seller normally pays the real estate at closing.  Box 5 would normally be blank.

Box 4 would also normally be blank.  This box would be complete when the seller receive more than cash in the sale.

The instructions to enter the information off the 1099-S are as follows:

1.       Jump to Sale of home in the find box in the upper right of your screen,

2.       Click the yes button,

3.       Click the continue button,

4.       Enter the information on the screen and click the continue button,

5.       The “Date Sold” and “Selling Price” information boxes come from your 1099-S, and

6.       Finish the interview.

 

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