topic Re: 1099-S error in Get your taxes done using TurboTax

1099-S error

bsl2020 — Mon, 09 Mar 2026 10:39:11 GMT

I received my 1099-S from the title company after selling my investment property. I noticed an substantial error on line 2 (Gross Proceeds). It's close to the filing deadline. I contacted my realtor to reach out to the title company but no response. Should I report the correct amount or use the reported amount? The IRS should already have the copy from the title company. I don't want to amend or extend at this point.

Re: 1099-S error

Vanessa A — Thu, 14 Apr 2022 19:04:03 GMT

You should report the correct amount. If you report the wrong amount, you would end up needing to amend your return.

Re: 1099-S error

bsl2020 — Thu, 14 Apr 2022 19:06:08 GMT

I really appreciate your quick response. I will move forward to report the correct amount. I am assuming the title company involved will send the IRS a revised 1099-S.

Best Regards !

Re: 1099-S error

JohnW152 — Thu, 14 Apr 2022 19:25:32 GMT

Yes, you’re correct – the IRS will receive an amended Form 1099-S, if one is issued.