@dakeans wrote:
I've received no money regarding a transaction on this home nore have I accepted the property. Am I liable for taxation on this? Perhaps off base for this site: Should be seeking a portion of the proceeds?
Whether you have any federal (or state) income tax liability depends, but you will have to report the amount on the 1099-S (assuming it has your social security number) or there will be a mismatch between your return and the IRS records.
You should definitely contact the attorney who filed the 1099-S and inquire as the disposition of the proceeds as well as any other pertinent information, such as the tax basis and sales price.
