pk
Level 15
Level 15

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 ?