How do I fill out 1099-s upon sale of marital home post divorce? Proceeds: husband received 65%, wife received 20%, and husband's attorney is holding 15% in trust.

Title company unable to advise. Basis not mentioned in decree. Trust funds will still be with attorney at 12/31/2024. Amounts well above limits and do require filing.

posted

You don't issue a 1099-S unless you are the closing agent. Are you the agent, or one of the taxpayers?

Instructions are here. https://www.irs.gov/instructions/i1099s

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How do I fill out 1099-s upon sale of marital home post divorce? Proceeds: husband received 65%, wife received 20%, and husband's attorney is holding 15% in trust.

How do I fill out 1099-s upon sale of marital home post divorce? Proceeds: husband received 65%, wife received 20%, and husband's attorney is holding 15% in trust.

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How do I fill out 1099-s upon sale of marital home post divorce? Proceeds: husband received 65%, wife received 20%, and husband's attorney is holding 15% in trust.

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How do I fill out 1099-s upon sale of marital home post divorce? Proceeds: husband received 65%, wife received 20%, and husband's attorney is holding 15% in trust.

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