2019
Department of the Treasury
Internal Revenue Service
Instructions for Form 1099-S
Proceeds From Real Estate Transactions
Section references are to the Internal Revenue Code unless
transfer under a land contract is reportable in the year in which
otherwise noted.
the parties enter into the contract.
Future Developments
Ownership interest. An ownership interest includes fee simple
interests, life estates, reversions, remainders, and perpetual
For the latest information about developments related to Form
easements. It also includes any previously created rights to
1099-S and its instructions, such as legislation enacted after
possession or use for all or part of any particular year (for
they were published, go to IRS.gov/Form1099S.
example, a leasehold, easement, or timeshare), if such rights
Reminders
have a remaining term of at least 30 years, including any period
for which the holder may renew such rights, determined on the
In addition to these specific instructions, you should also use the
date of closing. For example, a preexisting leasehold on a
2019
General Instructions for Certain Information
Returns.
building with an original term of 99 years and a remaining term of
Those general instructions include information about the
35 years on the closing date is an ownership interest; however, if
following topics.
the remaining term is 10 years, it is not an ownership interest. An
Who must file.
ownership interest does not include any option to acquire real
When and where to file.
estate. An ownership interest also includes any contractual
Electronic reporting.
interest in a sale or exchange of standing timber for a lump-sum
Corrected and void returns.
payment that is fixed and not contingent.
Statements to recipients.
Involuntary conversion. A sale of real estate under threat or
Taxpayer identification numbers (TINs).
imminence of seizure, requisition, or condemnation is generally
Backup withholding.
a reportable transaction.
Penalties.
Other general topics.
Timber. Report on Form 1099-S payments of timber royalties
made under a pay-as-cut contract, reportable under section
You can get the general instructions at
IRS.gov/
6050N. For more information, see Announcement 90-129,
1099generalinstructions
or go to IRS.gov/Form1099S.
1990-48 I.R.B. 10.
Online PDF fillable Copies B and C. To ease statement
Exceptions
furnishing requirements, Copies B and C are fillable online in a
PDF format available at IRS.gov/Form1099S. You can complete
The following is a list of transactions that are not reportable;
these copies online for furnishing statements to recipients and
however, you may choose to report them. If you do, you are
for retaining in your own files.
subject to the rules in these instructions.
1. Sale or exchange of a residence (including stock in a
Specific Instructions
cooperative housing corporation) for $250,000 or less if you
received an acceptable written assurance (certification) from the
File Form 1099-S, Proceeds From Real Estate Transactions, to
seller that such residence is the principal residence (within the
report the sale or exchange of real estate.
meaning of section 121) of the seller and the full amount of the
gain on such sale is excludable from gross income under section
Reportable Real Estate
121. If the certification includes an assurance that the seller is
Generally, you are required to report a transaction that consists
married, the preceding sentence shall be applied by substituting
in whole or in part of the sale or exchange for money,
“$500,000” for “$250,000.” If there are joint sellers, you must
indebtedness, property, or services of any present or future
obtain a certification from each seller (whether married or not) or
ownership interest in any of the following.
file Form 1099-S for any seller who does not make the
1. Improved or unimproved land, including air space.
certification. The certification must be signed by each seller
under penalties of perjury.
2. Inherently permanent structures, including any
residential, commercial, or industrial building.
A sample certification format can be found in Rev. Proc.
2007-12, 2007-4 I.R.B. 354, available at
IRS.gov/irb/
3. A condominium unit and its appurtenant fixtures and
2007-04_IRB/ar09.html.
common elements, including land.
4. Stock in a cooperative housing corporation (as defined in
Rev. Proc. 2007-12 does not reflect changes made by P.
section 216).
L. 110-289, section 3092(a), which added section
!
121(b)(5). The sample certification included in Rev.
5. Any non-contingent interest in standing timber.
CAUTION
Proc. 2007-12 does not include an assurance that there has
been no period of nonqualified use (as that term is defined in
Sale or exchange. A sale or exchange includes any
section 121(b)(5)(C)) after December 31, 2008. Also, the sample
transaction properly treated as a sale or exchange for federal
certification included in Rev. Proc. 2007-12 does not include an
income tax purposes, even if the transaction is not currently
assurance, as required by section 6045(e)(5)(A)(iii), that the full
taxable. For example, a sale of a main home may be a
amount of the gain from the sale is excludable under section
reportable sale even though the transferor may be entitled to
121.
exclude the gain under section 121. But see Exceptions, later.
Also, a transfer to a corporation that qualifies for nonrecognition
You may get the certification any time on or before January
of gain under section 351 is a reportable exchange. In addition, a
31 of the year after the year of sale. You may rely on the
Nov 14, 2018
Cat. No. 27988X
2019
Department of the Treasury
Internal Revenue Service
Instructions for Form 1099-S
Proceeds From Real Estate Transactions
Section references are to the Internal Revenue Code unless
transfer under a land contract is reportable in the year in which
otherwise noted.
the parties enter into the contract.
Future Developments
Ownership interest. An ownership interest includes fee simple
interests, life estates, reversions, remainders, and perpetual
For the latest information about developments related to Form
easements. It also includes any previously created rights to
1099-S and its instructions, such as legislation enacted after
possession or use for all or part of any particular year (for
they were published, go to IRS.gov/Form1099S.
example, a leasehold, easement, or timeshare), if such rights
Reminders
have a remaining term of at least 30 years, including any period
for which the holder may renew such rights, determined on the
In addition to these specific instructions, you should also use the
date of closing. For example, a preexisting leasehold on a
2019
General Instructions for Certain Information
Returns.
building with an original term of 99 years and a remaining term of
Those general instructions include information about the
35 years on the closing date is an ownership interest; however, if
following topics.
the remaining term is 10 years, it is not an ownership interest. An
Who must file.
ownership interest does not include any option to acquire real
When and where to file.
estate. An ownership interest also includes any contractual
Electronic reporting.
interest in a sale or exchange of standing timber for a lump-sum
Corrected and void returns.
payment that is fixed and not contingent.
Statements to recipients.
Involuntary conversion. A sale of real estate under threat or
Taxpayer identification numbers (TINs).
imminence of seizure, requisition, or condemnation is generally
Backup withholding.
a reportable transaction.
Penalties.
Other general topics.
Timber. Report on Form 1099-S payments of timber royalties
made under a pay-as-cut contract, reportable under section
You can get the general instructions at
IRS.gov/
6050N. For more information, see Announcement 90-129,
1099generalinstructions
or go to IRS.gov/Form1099S.
1990-48 I.R.B. 10.
Online PDF fillable Copies B and C. To ease statement
Exceptions
furnishing requirements, Copies B and C are fillable online in a
PDF format available at IRS.gov/Form1099S. You can complete
The following is a list of transactions that are not reportable;
these copies online for furnishing statements to recipients and
however, you may choose to report them. If you do, you are
for retaining in your own files.
subject to the rules in these instructions.
1. Sale or exchange of a residence (including stock in a
Specific Instructions
cooperative housing corporation) for $250,000 or less if you
received an acceptable written assurance (certification) from the
File Form 1099-S, Proceeds From Real Estate Transactions, to
seller that such residence is the principal residence (within the
report the sale or exchange of real estate.
meaning of section 121) of the seller and the full amount of the
gain on such sale is excludable from gross income under section
Reportable Real Estate
121. If the certification includes an assurance that the seller is
Generally, you are required to report a transaction that consists
married, the preceding sentence shall be applied by substituting
in whole or in part of the sale or exchange for money,
“$500,000” for “$250,000.” If there are joint sellers, you must
indebtedness, property, or services of any present or future
obtain a certification from each seller (whether married or not) or
ownership interest in any of the following.
file Form 1099-S for any seller who does not make the
1. Improved or unimproved land, including air space.
certification. The certification must be signed by each seller
under penalties of perjury.
2. Inherently permanent structures, including any
residential, commercial, or industrial building.
A sample certification format can be found in Rev. Proc.
2007-12, 2007-4 I.R.B. 354, available at
IRS.gov/irb/
3. A condominium unit and its appurtenant fixtures and
2007-04_IRB/ar09.html.
common elements, including land.
4. Stock in a cooperative housing corporation (as defined in
Rev. Proc. 2007-12 does not reflect changes made by P.
section 216).
L. 110-289, section 3092(a), which added section
!
121(b)(5). The sample certification included in Rev.
5. Any non-contingent interest in standing timber.
CAUTION
Proc. 2007-12 does not include an assurance that there has
been no period of nonqualified use (as that term is defined in
Sale or exchange. A sale or exchange includes any
section 121(b)(5)(C)) after December 31, 2008. Also, the sample
transaction properly treated as a sale or exchange for federal
certification included in Rev. Proc. 2007-12 does not include an
income tax purposes, even if the transaction is not currently
assurance, as required by section 6045(e)(5)(A)(iii), that the full
taxable. For example, a sale of a main home may be a
amount of the gain from the sale is excludable under section
reportable sale even though the transferor may be entitled to
121.
exclude the gain under section 121. But see Exceptions, later.
Also, a transfer to a corporation that qualifies for nonrecognition
You may get the certification any time on or before January
of gain under section 351 is a reportable exchange. In addition, a
31 of the year after the year of sale. You may rely on the
Nov 14, 2018
Cat. No. 27988X
certification and not file or furnish Form 1099-S unless you know
1. If you are the person responsible for closing the
that any assurance on the certification is incorrect.
transaction, you must file Form 1099-S. If a
Settlement
Statement (HUD-1)
prescribed under the Real Estate Settlement
You must keep the certification for 4 years after the year of
Procedures Act of 1974 (RESPA) is used and a person is listed
sale. You may keep the certification on paper, microfilm,
as the settlement agent on the statement, the person
microfiche, or in an electronic storage system.
responsible for closing the transaction is the person listed as the
You are not required to obtain the certification. However, if
settlement agent on that statement. A HUD-1 includes any
you do not obtain it, you must file and furnish Form 1099-S.
amendments, variations, or substitutions that may be prescribed
2. Any transaction in which the transferor is a corporation (or
under RESPA if any such form requires disclosure of the
is considered to be a corporation under Regulations section
transferor and transferee, the application of the proceeds, and
1.6045-4(d)(2)); a governmental unit, including a foreign
the identity of the settlement agent or other person responsible
government or an international organization; or an exempt
for preparing the form.
volume transferor. Under this rule, if there are exempt and
If a HUD-1 is not used, or no settlement agent is listed, the
nonexempt transferors, you must file Form 1099-S only for the
person responsible for closing the transaction is the person who
nonexempt transferor.
prepares the closing statement, including a settlement statement
An exempt volume transferor is someone who sold or
(including a HUD-1) or other written document that identifies the
exchanged during the year, who expects to sell or exchange
transferor and transferee, reasonably identifies the real estate
during the year, or who sold or exchanged in either of the 2
transferred, and describes how the proceeds are to be or were
previous years at least 25 separate items of reportable real
disbursed.
estate to at least 25 separate transferees. In addition, each item
If no closing statement is used, or if two or more statements
of reportable real estate must have been held, at the date of
are used, the person responsible for closing the transaction is, in
closing, or will be held, primarily for sale or resale to customers
the following order:
in the ordinary course of a trade or business. You are not
a. The transferee's attorney who is present at the delivery of
required to report an exempt volume transferor's transactions if
either the transferee's note or a significant part of the cash
you receive the penalties of perjury certification required by
proceeds to the transferor or who prepares or reviews the
Regulations section 1.6045-4(d)(3).
preparation of the documents transferring legal or equitable
3. Any transaction that is not a sale or exchange, including a
ownership;
bequest, a gift (including a transaction treated as a gift under
b. The transferor's attorney who is present at the delivery of
section 1041), and a financing or refinancing that is not related to
either the transferee's note or a significant part of the cash
the acquisition of real estate.
proceeds to the transferor or who prepares or reviews the
4. A transfer in full or partial satisfaction of a debt secured by
preparation of the documents transferring legal or equitable
the property. This includes a foreclosure, a transfer in lieu of
ownership; or
foreclosure, or an abandonment.
c. The disbursing title or escrow company that is most
5. A de minimis transfer for less than $600. A transaction is
significant in disbursing gross proceeds.
de minimis if it can be determined with certainty that the total
money, services, and property received or to be received is less
If there is more than one attorney described in (a) or (b), the
than $600, as measured on the closing date. For example, if a
one whose involvement is most significant is the person
contract for sale provides for total consideration of “$1.00 plus
considered responsible for closing the transaction.
other valuable consideration,” the transfer is not a de minimis
2. If no one is responsible for closing the transaction as
transfer unless you can determine that the “other valuable
explained in (1) above, the person responsible for filing is, in the
consideration” is less than $599, as measured on the closing
following order: (a) the mortgage lender, (b) the transferor's
date. The $600 rule applies to the transaction as a whole, not
broker, (c) the transferee's broker, or (d) the transferee.
separately to each transferor.
For purposes of (2) above, apply the following definitions.
No reporting is required for the sale or exchange of an
a. Mortgage lender means a person who lends new funds in
interest in the following types of property, provided the sale is
connection with the transaction, but only if the loan is at least
not related to the sale or exchange of reportable real estate.
partially secured by the real estate. If there is more than one
An interest in surface or subsurface natural resources (for
lender, the one who lends the most new funds is the mortgage
example, water, ores, or other natural deposits) or crops,
lender. If several lenders advance equal amounts of new funds,
whether or not such natural resources or crops are severed from
and no other person advances a greater amount of new funds,
the land. For this purpose, the terms "natural resources" and
the mortgage lender is the one who has the security interest that
"crops" do not include standing timber. For timber royalties, see
is most senior in priority. Amounts advanced by the transferor
Timber, earlier.
are not treated as new funds.
A burial plot or vault.
b. Transferor's broker means the broker who contracts with
A manufactured structure used as a dwelling that is
the transferor and who is compensated for the transaction.
manufactured and assembled at a location different from that
c. Transferee's broker means the broker who significantly
where it is used, but only if such structure is not affixed, on the
participates in the preparation of the offer to acquire the property
closing date, to a foundation. This exception applies to the
or who presents such offer to the transferor. If there is more than
transfer of an unaffixed mobile home that is unrelated to the sale
one such person, the transferee's broker is the one who most
or exchange of reportable real estate.
significantly participates in the preparation of the acquisition
Who Must File
offer. If there is no such person, the one who most significantly
participates in the presentation of the offer is the transferee's
Generally, the person responsible for closing the transaction, as
broker.
explained in (1) below, is required to file Form 1099-S. If no one
d. Transferee means the person who acquires the greatest
is responsible for closing the transaction, the person required to
interest in the property. If no one acquires the greatest interest,
file Form 1099-S is explained in (2), later. However, you may
the transferee is the person listed first on the ownership transfer
designate the person required to file Form 1099-S in a written
documents.
agreement, as explained under (3), later.
-2-
Instructions for Form 1099-S (2019)
3. Designation agreement. You can enter into a written
If no gross proceeds are allocated to a transferor because no
agreement at or before closing to designate who must file Form
allocation or an incomplete allocation is received, you must
1099-S for the transaction. The agreement will identify the
report the total unallocated gross proceeds on the Form 1099-S
person responsible for filing if such designated person signs the
made for that transferor. If you do not receive any allocation or
agreement. It is not necessary that all parties to the transaction
you receive conflicting allocations, report on each transferor's
(or that more than one party) enter into the agreement.
Form 1099-S the total unallocated gross proceeds.
You may be designated in the agreement as the person who
Spouses. If the transferors were spouses at the time of closing,
must file if you are the person responsible for closing the
who held the property as joint tenants, tenants by the entirety,
transaction (as explained in (1) under
Who Must
File, earlier),
tenants in common, or as community property, treat them as a
the transferee's or transferor's attorney (as explained in (1)
single transferor. Only one Form 1099-S showing either of them
under
Who Must
File, earlier), the title or escrow company that is
as the transferor is required. You need not request an allocation
most significant in disbursing gross proceeds, or the mortgage
of gross proceeds if spouses are the only transferors. But if you
lender (as explained in (2a) under
Who Must
File, earlier).
receive an uncontested allocation of gross proceeds from them,
file Form 1099-S for each spouse according to the allocation. If
The designation agreement may be in any written form and
there are other transferors, you must make a reasonable effort to
may be included on the closing statement. It must:
contact either spouse to request an allocation.
a. Identify by name and address the person designated as
responsible for filing,
Partnerships. If the property is transferred by a partnership, file
only one Form 1099-S for the partnership, not separate Forms
b. Include the names and addresses of each person
1099-S for each partner.
entering into the agreement,
c. Be signed and dated by all persons entering into the
Multiple Assets Sold
agreement,
If real estate is sold or exchanged and other assets are sold or
d. Include the names and addresses of the transferor and
exchanged in the same transaction, report the total gross
transferee, and
proceeds from the entire transaction on Form 1099-S.
e. Include the address and any other information necessary
TINs
to identify the property.
You must request the transferor's TIN no later than the time of
Each person who signs the agreement must keep it for 4 years.
closing. The TIN request need not be made in a separate
For each transaction, be sure that only one person is
mailing. Rather, it may be made in person, in a mailing that
responsible for filing and that only one Form 1099-S is
TIP
includes other items, or electronically. The transferor is required
filed for each transferor.
to furnish his or her complete, non-truncated TIN and to certify
that the TIN is correct. For U.S. persons (including U.S. resident
Employees, Agents, and Partners
aliens), you may request a TIN on
Form W-9, Request for
Taxpayer Identification Number and
Certification. Foreign
If an employee, agent, or partner, acting within the scope of such
persons may provide their TIN to you on the appropriate
Form
person's employment, agency, or partnership, participates in a
W-8. See part J in the 2019
General Instructions for Certain
real estate transaction, only the employer, principal, or
Information
Returns.
partnership (not the employee, agent, or partner) may be the
reporting person. However, the participation of a person listed
Alternatively, you may provide a written statement to the
on the HUD-1 as the settlement agent acting as an agent of
transferor similar to the following: “You are required by law to
another is not attributed to the principal.
provide (insert name of person responsible for filing) with your
correct taxpayer identification number. If you do not provide
Foreign Transferors
(insert name of person responsible for filing) with your correct
Sales or exchanges involving foreign transferors are reportable
taxpayer identification number, you may be subject to civil or
on Form 1099-S. For information on the transferee's
criminal penalties imposed by law.”
responsibility to withhold income tax when a U.S. real property
The solicitation must contain space for the name, address,
interest is acquired from a foreign person, see
Pub. 515,
and TIN of the transferor, and a place to certify under penalties
Withholding of Tax on Nonresident Aliens and Foreign
Entities.
of perjury that the TIN furnished is the correct TIN of the
Multiple Transferors
transferor. The certification must read similar to: “Under
penalties of perjury, I certify that I am a U.S. person or U.S.
For multiple transferors of the same real estate, you must file a
resident alien and the number shown on this statement is my
separate Form 1099-S for each transferor. At or before closing,
correct taxpayer identification number.”
you must request from the transferors an allocation of the gross
proceeds among the transferors. The request and the response
If you use a HUD-1, you may provide a copy of such
are not required to be in writing. You must make a reasonable
statement, appropriately modified to solicit the TIN, to the
effort to contact all transferors of whom you have knowledge.
transferor. Keep the Form W-9, W-8, or substitute form in your
However, you may rely on the unchallenged response of any
records for 4 years.
transferor, and you need not make additional contacts with other
transferors after at least one complete allocation is received
Separate Charge Prohibited
(100% of gross proceeds, whether or not received in a single
You may not charge your customers a separate fee for
response). If you receive the allocation, report gross proceeds
complying with the Form 1099-S filing requirements. However,
on each Form 1099-S accordingly.
you may take into account the cost of filing the form in setting the
fees you charge your customers for services in a real estate
You are not required to, but you may, report gross proceeds
transaction.
in accordance with an allocation received after the closing date
but before the due date of Form 1099-S (without extensions).
Statements to Transferors
However, you cannot report gross proceeds in accordance with
an allocation received on or after the due date of Form 1099-S
If you are required to file Form 1099-S, you must furnish a
(without extensions).
statement to the transferor. Furnish a copy of Form 1099-S or an
-3-
Instructions for Form 1099-S (2019)
acceptable substitute statement to each transferor. For more
Gross proceeds do not include the value of property or
information about the requirement to furnish a statement to the
services received or to be received by, or on behalf of, the
transferor, see part M in the 2019
General Instructions for
transferor or separately stated cash received for personal
Certain Information
Returns.
property, such as draperies, rugs, or a washer and dryer.
Do not reduce gross proceeds by any expenses paid by the
You are not required to indicate on Form 1099-S that the
transferor, such as sales commissions, deed preparation,
transferor's (seller's) financing was federally subsidized.
TIP
advertising, and legal expenses. If a HUD-1 is used for a transfer
Also, you are not required to enter the following.
of real estate for cash and notes only, gross proceeds generally
Both total gross proceeds and the allocated gross proceeds
will be the contract sales price shown on that statement. If other
for a multiple transferor transaction (enter either one or the
property or services were exchanged, see the
box 4
instructions,
other).
later.
An indication that the transferor may receive property or
Contingent payment transaction. A contingent payment
services for an obligation having a stated principal amount.
transaction is one in which the receipt, by or on behalf of the
An indication that, in connection with a contingent payment
transferor, is subject to a contingency. The maximum
transaction, the transferor may receive gross proceeds that
determinable proceeds means the greatest amount of gross
cannot be determined with certainty under the regulations and is
proceeds possible if all the contingencies are satisfied. If the
not included in gross proceeds.
maximum amount of gross proceeds cannot be determined with
certainty, the maximum determinable proceeds are the greatest
Truncating transferor's TIN on payee statements. Pursuant
amount that can be determined with certainty.
to Regulations section 301.6109-4, all filers of this form may
truncate a transferor’s TIN (social security number (SSN),
Box 3. Address (Including City, State, and ZIP
individual taxpayer identification number (ITIN), adoption
Code) or Legal Description
taxpayer identification number (ATIN), or employer identification
number (EIN)) on payee statements. Truncation is not allowed
Enter the address of the property, including the city, state, and
on any documents the filer files with the IRS. A filer’s TIN may
ZIP code. If the address does not sufficiently identify the
not be truncated on any form. See part J in the 2019
General
property, also enter a legal description, such as section, lot, and
Instructions for Certain Information
Returns.
block. For timber royalties, enter “Timber royalties.” For
lump-sum timber payments, enter “Lump-sum timber payment.”
Filer's Name, Address, and Telephone Number
Box
Box 4. Check Here if the Transferor Received or
Will Receive Property or Services as Part of the
Enter the name, address, and telephone number of the person
who is filing Form 1099-S. The name and address must be the
Consideration
same as the filer information reported on Form 1096.
If the transferor received or will receive property (other than cash
and consideration treated as cash in figuring gross proceeds) or
Transferor's Name and Address Box
services as part of the consideration for the property, enter an
Enter the name and address of the seller or other transferor of
“X” in the checkbox in box 4.
the real estate. If spouses are joint sellers, it is only necessary to
enter one name and the TIN for that person on the form.
Box 5. Check Here if the Transferor is a Foreign
Person (Nonresident Alien, Foreign Partnership,
Account Number
Foreign Estate, or Foreign Trust)
The account number is required if you have multiple accounts for
If the transferor is a foreign person (nonresident alien, foreign
a recipient for whom you are filing more than one Form 1099-S.
Additionally, the IRS encourages you to designate an account
partnership, foreign estate, or foreign trust), enter an "X" in the
number for all Forms 1099-S that you file. See part L in the 2019
checkbox in box 5. See Form 8288 and its separate instructions
for tax withholding requirements for properties sold by a foreign
General Instructions for Certain Information
Returns.
transferor.
Box 1. Date of Closing
Box 6. Buyer's Part of Real Estate Tax
Enter the closing date. On a HUD-1, the closing date is the
For a real estate transaction involving a residence, enter the real
settlement date. If a HUD-1 is not used, the closing date is the
earlier of the date title transfers or the date the economic
estate tax paid in advance that is allocable to the buyer. You do
burdens and benefits of ownership shift to the transferee.
not have to report an amount as allocable to the buyer for real
estate taxes paid in arrears. You may use the appropriate
Box 2. Gross Proceeds
information included on the HUD-1, or comparable form,
provided at closing. For example, a residence is sold in a county
Enter the gross proceeds from the sale or exchange of real
where the real estate tax is paid annually in advance. The seller
estate. Gross proceeds means any cash received or to be
paid real estate taxes of $1,200 for the year in which the sale
received for the real property by or on behalf of the transferor,
took place. The sale occurred at the end of the 9th month of the
including the stated principal amount of a note payable to or for
real estate tax year. Therefore, $300 of the tax paid in advance
the benefit of the transferor and including a note or mortgage
is allocated to the buyer, by reference to the amount of real
paid off at settlement. If the transferee assumes a liability of the
estate tax shown on the HUD-1 as paid by the seller in advance,
transferor or takes the property subject to a liability, such liability
and is reported in box 5. See Notice 93-4, 1993-1 C.B. 295.
is treated as cash and is includible as part of gross proceeds.
For a contingent payment transaction, include the maximum
determinable proceeds. Also see
Multiple Assets
Sold, earlier.
If you are reporting a like-kind exchange of property for which
no gross proceeds are reportable, enter -0- (zero) in box 2 and
enter an “X” in the checkbox in box 4.
-4-
Instructions for Form 1099-S (2019)