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1099-S Reporting

Learn how to complete the 1099-S form properly and accurately.

When certain types of real estate are sold, the IRS requires that a Form 1099-S be filed. The purpose of this form is to ensure that sellers are properly reporting their gross proceeds and recognizing the property capital gain on the annual income tax return. This topic will help to explain the requirements for filing Form 1099-S and will provide guidance on how to properly complete the Form 1099-S. This information is a must for those who struggle with 1099-S reporting, as it will look into the details of when the form is required and how to complete it properly and completely.

Learning Objectives

  • You will be able to identify the background and requirements to file the Form 1099-S.
  • You will be able to differentiate what information is reported in which box of the Form 1099-S.
  • You will be able to identify when and who must file the Form 1099-S.
  • You will be able to recognize the exceptions and exemptions for filing the Form 1099-S.

Runtime: 104 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Introduction to Form 1099-S

  • Who Must File
  • Deadlines for Filing
  • What Information Is Required

Types of Reportable Transactions

  • Transactions Requiring Form 1099-S
  • Exempt Transferors
  • Exempt Transactions

Case Studies

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on June 5, 2019.

Call 1-866-352-9540 for further credit information.

  • CPE/NASBA - QAS Self Study 2.8 including Specialized Knowledge 2.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 2.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Brian T. Lovett, CPA, CGMA, JD

Brian T. Lovett, CPA, CGMA, JD

WithumSmith+Brown

  • Partner in the East Brunswick, NJ office of WithumSmith+Brown PC
  • Practice emphasizes all aspects of real estate
  • Conducts regular seminars and workshops on numerous tax issues impacting the real estate industry
  • Author of several publications related to various real estate matters
  • J.D. degree, Rutgerts Law School- Camden; B.S. degree in accountancy, The College of New Jersey
  • Can be contactd at [email protected], 732-964-9343 or on Twitter® @briantlovett
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 406354
Published 2019
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