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.
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Why Lorman?
Over 35 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 35 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 Course
This course was last revised on June 5, 2019.
Call 1-866-352-9540 for further credit information.
No Credit AvailableThis program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 35 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, J.D.
WithumSmith+Brown, PC
- 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, Rutgers Law School- Camden; B.S. degree in accountancy, The College of New Jersey
- Can be contacted at 732-964-9343, [email protected] or on Twitter® @briantlovett
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Why Lorman?
Over 35 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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