1099-S error

Forum|Forum|4 years ago
April 14, 2022
1 reply
4 views

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.

Vanessa A

Level 15

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

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kappa808Author

Level 2

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 !