Determine the Responsible Party

• The individual responsible for closing the transaction is the party responsible for filing form 1099S. Generally this is an attorney for the transferee or transferor or the title agent handling the escrow for the transaction. Alternatively, the responsible party can be designated in a written agreement.
  
  

Where to Get Form 1099S

• You can find a copy of form 1099S online; however this copy should not be used for anything other than informational purposes. The form 1099S you file must be a printed form that can be scanned. If you file a form that cannot be scanned, you are liable to incur a $50 penalty. You may obtain a printed version of form 1099S by calling the IRS forms line at 1-800-829-3676.
  
  

Completing the Form

• Enter all information required in each field. Failure to fully complete the form can delay the processing of your return.
  
  

Filing Form 1099S

• Copy A of form 1099S must be filed with form 1096 and sent to the IRS. Copy B must be sent to the transferor. Copy C is retained by the filing party.