1099 S Software : E-File / Print 1099S Forms | Prepare 1099 Real Estate
IRS Form 1099 S: Proceeds From Real Estate Transactions
W2 Mate is a complete W2 / 1099 processing software that supports a number of 1099 forms other than 1099 Real Estate . This page is dedicated to 1099-S, to read about the full capabilities and tax reporting features of W2 Mate click here .
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Our 1099 Real Estate Software prints the following 1099-S (Proceeds From Real Estate Transactions) copies:
1099-S Copy B (1099 Proceeds From Real Estate Transactions Copy B): For Transferor.
1099-S Copy C (1099 Proceeds From Real Estate Transactions Copy C): For Filer.
All these form 1099-S copies can be printed on blank paper with black ink.
Our 1099 S Software prints ON the following official IRS laser forms:
Laser Copy A of form 1099 S (Proceeds From Real Estate Transactions): For Internal Revenue Service Center.
Laser 1096 form : Annual Summary and Transmittal of U.S. Information Returns.
Settlement agents (Real Estate Brokers, Real Estate Agents, Escrow Companies, Title Companies, Real Estate Lawyers, Attorneys for Property Transactions and Banks) are required by law to obtain the necessary information to complete and file Form 1099-S prior to the close of escrow. The Internal Revenue Code requires the seller (transferor) to provide the requested 1099-S information under penalty of perjury to the settlement agent. The IRS can charge the transferor (seller) penalties for non-compliance.
Below is a screenshot of our 1099S Tax Software:
Other features of our 1099-S Software
Support for an unlimited number of 1099-S Filers (Real Estate Brokers, Banks, Real Estate Agents, Escrow Companies, Title Companies, Real Estate Lawyers, Attorneys for Property Transactions etc.) and unlimited number of
1099-S transferors (sellers), unlike other W2 and 1099 Real Estate software applications!
Exports 1099S data to Microsoft Excel format.This feature is very useful to companies processing a large number of 1099-S forms. This feature is also useful to our users who import data from accounting software such as QuickBooks, Dynamics GP or Peachtree.
Imports data for 1099-S forms from CSV files (requires W2 Mate Option #3).
Imports 1099 Data (for 1099-S and other forms) from QuickBooks, Sage Peachtree, Microsoft Dynamics
(Great Plains), Sage DacEasy and other accounting software.(requires W2 Mate Option #3)
10-99 S EFile (1099-S Electronic Filing) through IRS FIRE (requires W2 Mate Option #4).
Helps filers meet IRS 1099 Real Estate reporting requirements.
Upon entry of basic 10 99 S recipient information, the program automatically populates 1099-S form, with data-entry screens using form replicas.
Our 1099 S program, which can be installed on local workstations or networked servers, can be used either by small businesses preparing IRS 1099S forms in-house or by tax firms managing the 1099-S compliance needs of several clients.
For a detailed description of this IRS 1099-S software and its features,
please visit our IRS 1099 software page.
Quick Guide to form 1099-S Boxes (all these types of 1099-S payments are supported by our 1099 Tax S software)
Box 1. Date of Closing
Enter the closing date. On a Settlement Statement (under RESPA), the closing date is the settlement date. If a Settlement Statement (under RESPA) is not used, the closing date is the earlier of the date title transfers or the date the economic burdens and benefits of ownership shift to the transferee.
Box 2. Gross Proceeds
Enter the gross proceeds from the sale or exchange of real estate. Gross proceeds means any cash received or to be received for the real property by or on behalf of the transferor, including the stated principal amount of a note payable to or for the benefit of the transferor and including a note or mortgage paid off at settlement.
Box 3. Address or Legal Description (Including City, State, and ZIP Code)
Enter the address of the property, including the city, state, and ZIP code. If the address does not sufficiently identify the property, also enter a legal description, such as section, lot, and block. For timber royalties, enter "Timber royalties." For lump-sum timber payments, enter "Lump-sum timber payment."
Box 4. Check Here if the Transferor Received or Will Receive Property or Services as Part of the Consideration
If the transferor received or will receive property (other than cash and consideration treated as cash in computing gross proceeds) or services as part of the consideration for the property, enter an "X" in the checkbox in box 4.
Box 5. Buyer's Part of Real Estate Tax
For a real estate transaction involving a residence, enter the real estate tax paid in advance that is allocable to the buyer. You do not have to report an amount as allocable to the buyer for real estate taxes paid in arrears. You may use the appropriate information included on the HUD-1, or comparable form, provided at closing.
1099 Tax S Form Who Gets What Copy?
1099-S Copy A : For Filer to file with IRS.
1099-S Copy B : For Transferor to keep for their files/records.
1099-S Copy C/State : Copy C for Filer or State Copy.
Ready to print and E-file 1099 IRS S forms? Download a free demo of our 1099 S software now , enter actual recipients and see for yourself how easy and powerful this software is (make 1099 S in minutes).
Where to mail form 1099 Form S (Proceeds From Real Estate Transactions)
Once you use our 1099 Real Estate Software to create 1099S forms you can mail them to the address below (please double check the 1099 S mailing address with the 1099 S forms instructions for the current tax year):
Alabama, Arizona, Arkansas, Connecticut, Delaware, Florida, Georgia, Kentucky, Louisiana, Maine, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, Texas, Vermont, Virginia, West Virginia:
Department of the Treasury
Internal Revenue Service Center
Austin, TX 73301
Alaska, California, Colorado, District of Columbia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Maryland, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, North Dakota, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Utah, Washington, Wisconsin, Wyoming:
Department of the Treasury
Internal Revenue Service Center
Kansas City, MO 64999
1099 Form S Sample
1099-S QuickBooks | 1099 S and QuickBooks
Although Intuit QuickBooks only supports 1099-MISC forms, our 1099-S software allows QuickBooks users import 1099 data and then map it into 1099-S forms with the ability to specify which box the money amount goes to. For example the user can remap QuickBooks 1099-MISC amounts stored under 1099-MISC Box 7 (Nonemployee compensation) into 1099-S Box 2 Gross proceeds. Once the QuickBooks data is imported as 1099-S data inside our software, the user can modify it, print it to laser 1099 S forms, print it on regular white paper or electronically file QuickBooks 1099-S with the IRS.
How to print forms S 1099 using our software.
1- Install W2 Mate software. If you haven't bought our Form S 1099 Software, then you can start by downloading a FREE demo here.
2- Start W2 Mate software.
3- Click on Company icon from the left toolbar and fill out your company information. Please make sure to fill out the fields under 1096 information tab.
4- Click on the 1099 & 1098 Recipients icon from the left toolbar.
5- Add your 1099 S recipients one by one (you don't need this step if you imported your 1099S data from file or from an accounting software such as QuickBooks).
6- Click on 1099 & 1098 Forms tab from the left toolbar. Under Form Type, click Select and then pick Form 1099-S from the list.
7- Now you should be inside the 1099-S screen.
8- Go through the 1099 Real Estate recipients one by one and enter the money amounts. For example fill out Box 2 Gross proceeds. Please remember to save data before you move from one Transferor to another.
9- Now to print data click on the Print button. This will bring up the Print 1099 S forms dialog. Select the transferors you want to print and the type of copy. You can print all copies on regular white paper except for "Proceeds From Real Estate Transactions Copy A For Internal Revenue Service Center", you need to print it on pre-printed forms.
10- If you are printing on pre-printed 1099 forms S then you can adjust the offset(s) until you get a perfect copy.