Who should send me a 1099-S?

Question

I sold a house last year, but never received a 1099-S. I've read that it should come from the closing agent, but more specifically its said your RE agent, your title company, or your mortgage company. So which is right? I live in IL if that makes the difference. I called my mortgage company and realtor so far - both of them seemed to act as if they didn't know what a 1099-S was (scarey). I have yet to get in touch with the closing company...they don't seem to want to answer the phone or return my calls. My thought is that it should probably come from them, but I'm not sure. I also think they may not have sent it merely because of the dollar value of my transaction, but it would certainly be nice to confirm this. If the IRS got it, I want to have a copy of it as well. Thanks

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Phil Marti · Accepted Answer

Not uncommon.Let's look at this rationally.  What possible motivationwould they have for sending one to the IRS and not sendingyou a copy? Perhaps you can ease your mind by looking at IRS Publication523 and the instructions for Schedule D of the 1040.  If youdidn't have any taxable gain you don't report the sale evenif you get a 1099-S. --Phil MartiClarksburg, MD

Avrum Lapin · Answer

In CA the 1099-S usually comes from the escrow company. They wont send one if the sales price is less than $250K fora single seller or $500K for a married seller.

jeff37 · Answer

System error, human error, problem with post office forwarding, etc. I never received one of my 1098s, even after multiple requests, because Citibank is so incredibly incompetent and the Chicagoland postal service is pretty horrible with forwarding mail. As an update, I called the title company and they told me my attorney should have sent it. I called my attorney and he told me the title company should have sent it. So who knows.

Who should send me a 1099-S?

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