File IRS Form 1099-S Online with E-File Workforce Payroll
You can easily file your 1099-S tax form online by using E-File Workforce Payroll. The simplest and most reliable way to report real estate transactions to the IRS. This platform helps title companies, real estate agents, and escrow providers fulfill their filing obligations without hassle.
What Is IRS Form 1099-S?
Form 1099-S, also known as the “Proceeds from Real Estate Transactions” form, is an IRS tax document used to report the sale or exchange of real estate property. This includes:
- Land
- Buildings
- Permanent structures
- Condominiums
- And more
The 1099-S form is filed by the party responsible for closing the transaction, like a title company, escrow company, or real estate agent.
What Information Do You Need to File 1099-S?
The IRS requires tax form 1099-S for compliance and accurate reporting of tax purposes. Here is the essential information that you will need to file 1099-S:
- Date of Closing
- Gross Proceeds
- Any Exchange of Property
- Legal Description
- Payer Information (TIN, name and address)
- Recipient Information (TIN/SSN, name and address)
There are other boxes on forms that might need to be filled depending on the preceding’s nature. For instance, if property is transferred from a foreign alien, additional details will be required!
Who Reports IRS 1099 S?
According to the IRS entity that closes the sales of “Proceeds from Real Estate Transaction,” it is responsible for reporting 1099-S. Typically, a title company, an escrow company, or a sales agent is required to file Form 1099-S.
In short, an entity that handles the final settlement of property is responsible for reporting it to the IRS.
Deadlines to File Tax Form 1099-S in 2025:
Form 1099-S is generally filed with other year-end forms. The deadlines for the year 2025 are:
- Recipient Copy:
Must be sent out by January 31, 2025.
- Paper Filing:
The deadline will be February 28, 2025, if you report to the IRS via mail.
- Online Filing:
The online filing deadline is March 31, 2025.
The Process to File IRS 1099 S with E-File Workforce Payroll:
E-File Workforce Payroll is user friendly software that doesn’t require an explanatory guide to file 1099-S. Still, here is a quick guide to help you through the filing process:
- Login to your E-File Workforce Payroll account (or create one).
- Navigate to “Filing” in the left hand menu.
- Click “Start New Filing.”
- Choose the tax year and select Form 1099-S.
- Fill out the required fields and submit.
That’s it, your 1099-S filing is on its way to the IRS.
Have Questions?
Simpler than you think!
Common Queries About IRS 1099-S
1099-S is an informational document that is used to report “Proceeds from Real Estate Transaction” to federal tax authorities. Basically, the IRS wants to keep record of all real estate transactions. So, title companies and sales agents are required to file this document.
Generally yes, all sales and real estate transactions require 1099-S filing. Still, there are very rare exceptions where 1099-S won’t be required.
Any entity that makes the final settlement of a real estate transaction issues 1099-S. Here are a few examples below:
- Title companies
- Escrow companies
- Real estate agents
- Or other parties who handle the closing.
You need to report 1099-S on Schedule D. Choose reliable software that allows 1099-S filing.
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