Closing · federal taxForm 1099-S for real estate: who files and when
Form 1099-S reports the gross proceeds of a real estate sale to the IRS. It is generally filed by the person responsible for closing – the settlement agent listed on the Closing Disclosure – and a copy goes to the seller by February 15 of the following year. A home sale for $250,000 or less ($500,000 for a married seller) need not be reported if the seller certifies in writing that it was the principal residence and the full gain is excludable.
Who files
The person responsible for closing
If a Closing Disclosure or other settlement statement lists a settlement agent, that person files. Otherwise, in order: the buyer's attorney, the seller's attorney, then the disbursing title or escrow company most significant in disbursing proceeds.
If no one closes
In order: the mortgage lender, the seller's broker, the buyer's broker, then the buyer. The parties may also designate the filer in a written agreement.
No separate fee
The filer may not charge customers a separate fee for filing Form 1099-S, though the cost may be part of its overall fees.
Statement to the seller
A copy of Form 1099-S (or a conformed settlement statement) to each seller, at or after closing but by February 15 of the following year.
Main exceptions
Principal residence
A sale for $250,000 or less ($500,000 if the seller certifies being married) with a written certification, under penalties of perjury, from each seller that it was the principal residence, the full gain is excludable under section 121 and there was no nonqualified use after 2008. It may be obtained until January 31 of the next year and is kept 4 years.
Corporations and governments
Transferors that are corporations (including publicly traded partnerships) or governmental units, and exempt volume transferors with a certification.
Not a sale
Gifts, bequests, refinances not tied to an acquisition, and transfers in satisfaction of a secured debt such as foreclosures.
De minimis
Total consideration certainly below $600.
What the TC tracks
- Who the settlement agent is – they collect the seller's taxpayer identification number for the form.
- Whether the seller signs the principal residence certification at closing.
- Box 7: whether the seller is a foreign person – see FIRPTA withholding.
- From tax year 2026, digital assets received as consideration are reported on the form too.
Questions about Form 1099-S
Who files Form 1099-S?
Generally the person responsible for closing – the settlement agent listed on the Closing Disclosure, or the attorney or title company that closes the sale.
Do I get a 1099-S when I sell my house?
Not if the sale is $250,000 or less ($500,000 if married) and you certify it was your principal residence with the full gain excludable; otherwise yes.
When must Form 1099-S be given to the seller?
At or after closing, but by February 15 of the following year.
Can the title company charge a fee for the 1099-S?
Not a separate fee for complying with the Form 1099-S filing requirement.
Is Form 1099-S the same as FIRPTA reporting?
No. Form 1099-S reports the proceeds; FIRPTA withholding for foreign sellers is reported on Forms 8288 and 8288-A.
Related guides
Keep the seller's certification and the settlement statement with the deal documents in ClosingCode – one place for the file after closing.
Start free trialSources: IRS Instructions for Form 1099-S (Rev. 12/2026); IRS General Instructions for Certain Information Returns (2026), “Real estate transactions” (irs.gov, read October 24, 2026).
General information, not tax advice. ClosingCode is software; it is not a CPA firm, law firm or title company.