1099-s Form 2017-2024

2018 1099-s Form: What You Should Know

Form 1098-A is used by some taxpayers to report settlement payments for tax year 2024 (through the 2040) and earlier years. The amount reported under Form 1098-A is for the taxpayer and any persons treated as owners by the taxpayer. The amount reported under Form 1098-A is the settlement payments for the taxpayer and for anyone treated as owners described in §1.468A-11. For tax years prior to 2016, these settlement payments are reported in Part III of Form 1098-A, which is available online. To learn more about reporting the amounts reported under Form 1098-A, go to. (Learn more.) If you receive a settlement payment from a taxpayer, you must report it on the appropriate line(s) on the Form 1099-S. If the taxpayer did not receive a settlement payment in the tax year in which the settlement was reported, do not report the amount on the appropriate line(s) of Form 1099-S. Instead, attach a statement to the return showing the amount received. When the taxpayer does receive a settlement payment, reports on the appropriate line(s) of Form 1099-S the amount paid to the taxpayer and on the statement attached to the return for the settlement payment. When you submit your return, see  Form 1099-S -- Return to Top Taxpayer's Notice of Return with Settlement Payments For Tax year(s), See Rev. Pro. 2015-51, with the following additions and modifications: A payment for tax year(s) ending 2040 and later (to 2018), or a tax year(s) that end before 2018, is subject to taxation at the rate in effect the last day of the 6th month beginning after date of payment. If the payment was made on or after the 15th day of the last month of the taxpayer's taxable year in which the amount was received, the amount of the payment(s) must be reported on each Form 1099-S, unless the return also includes an attachment showing the amount received. To learn more about reporting the amount received under Part I of Form 1099-S, go to IRS.gov/Form1099S. (Learn more.

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