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Investors & landlords
The Title Company (or whomever closed the sale) uses a 1099-S because that is the form the IRS issued for their use.
It's a form used to report real estate transactions.
A sale of property can result in several different tax situations.
In your case, it is a capital gain (or loss) so the sale of that property is transferred to a 1099-B allowing the IRS computer to do the math for that transaction.
It also gives a "match" for the IRS to use against their copy of the 1099-S.
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‎February 4, 2023
12:48 PM