Real estate glossary
Form 1099-S
Also called: 1099-S, Proceeds from Real Estate Transactions
The IRS form escrow may file to report the gross proceeds of your home sale, with a copy sent to you.
Form 1099-S reports the gross proceeds of a real estate sale to the IRS. The settlement agent, usually escrow or the title company, is generally responsible for filing it and sends the seller a copy.
For the sale of your main home, the form may not need to be filed if the price is within the IRS limits ($250,000, or $500,000 for married sellers) and you certify in writing that the full gain is excludable from income. Whether you owe any tax depends on your own situation.
What it means for you as a seller
Keep your copy with your tax records and ask a tax professional how the sale affects your return — this page cannot tell you that.
Related terms
Not legal or tax advice. These explanations are general information to help you follow your own transaction. Laws, forms and customs vary by state and county, and the terms of your own contract always control. For advice about your situation, talk to your real estate agent, a real estate attorney or a tax professional. Last updated .