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Form 1099-S

When you sell your home, federal tax law requires lenders or real estate agents to file a Form 1099-S, Proceeds from Real Estate Transactions, with the IRS and send you a copy if you do not meet IRS requirements for excluding the taxable gain from the sale on your income tax return. To avoid violating IRS reporting rules, the lender or agent may send you a 1099-S even if you qualify for the taxable gain exclusion. The gross proceeds from the sale of your home appear in Box 2 of the form.

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IRS Website - Form 1099-S

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