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Form 1099-S Substitute Form online Fort Collins Colorado: What You Should Know
Other Property. Forms 1099-S and 1099-MISC have a similar format. The basic information on Form 1099-W is not required. Use Form 1099-K instead if you are an individual (or self-employed individual), are a partnership, trade or business entity, or plan on filing for a corporation or other business. Do not use Form 1099-W if you are an estate. When the sales of real estate are for investment purposes, the capital gains are often recognized as long-term capital gains (losses). In the example in the form, the capital gain will be taxed at the capital gains tax rate. (See Chapter 1, Tax Basics, for this rate).
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