- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
@reknutson , having read through the above interaction, I beg to disagree ---- if the 1099-S for GROSS PROCEEDS is half of what it should be --- you need to get the issuer to send you a corrected 1099-S. If the issuer refuses and you still think it is wrong ( I don't understand how the gross proceeds can be off by that much --50% ? ), you are still required to report the actual amounts. A wrongly reported information return ( 1099-S) does not provide a shade for you -- you still have to truthful or it is criminal ( per the IRS ), absent an honest mistake.
Please can you explain the situation a bit more e.g. how are you computing the gross proceeds ?
‎January 5, 2022
8:16 PM