7575 VOID CORRECTED

OMB No. 1545-0997

Proceeds From Real

Estate Transactions

FILER’S Federal identification number TRANSFEROR’S identification number

Gross proceeds

1 Date of closing

TRANSFEROR’S name

Address or legal description (including city, state, and ZIP code)

Street address (including apt. no.)

City, state, and ZIP code Check here if the transferor received or will receive

property or services as part of the consideration 

Account number (optional)

Form 1099-S Department of the Treasury - Internal Revenue Service

FILER’S name, street address, city, state, ZIP code, and telephone no.

2

3

4

Cat. No. 64292E

$

5 Buyer’s part of real estate tax

$

Form 1099-S

Do Not Cut or Separate Forms on This Page — Do Not Cut or Separate Forms on This Page

Copy A

For

Internal Revenue

Service Center

File with Form 1096.

For Privacy Act

and Paperwork

Reduction Act

Notice, see the

2002 General

Instructions for

Forms 1099, 1098,

5498, and W-2G.

2002
CORRECTED (if checked)

Copy B

This is important tax

information and is being

furnished to the Internal

Revenue Service. If you

are required to file a

return, a negligence

penalty or other

sanction may be

imposed on you if this

item is required to be

reported and the IRS

determines that it has

not been reported.

(keep for your records)

For Transferor

OMB No. 1545-0997

Proceeds From Real

Estate Transactions

FILER’S Federal identification number TRANSFEROR’S identification number

Gross proceeds

1 Date of closing

TRANSFEROR’S name

Address or legal description

Street address (including apt. no.)

City, state, and ZIP code Transferor received or will receive property or services

as part of the consideration (if checked) 

Account number (optional)

Form 1099-S Department of the Treasury - Internal Revenue Service

FILER’S name, street address, city, state, ZIP code, and telephone no.

2

3

4

$ Form 1099-S

5 Buyer’s part of real estate tax

$

2002
Instructions for Transferor

Box 2. Shows the gross proceeds from a real estate transaction,

generally the sales price. Gross proceeds include cash and notes

payable to you, notes assumed by the transferee (buyer), and any

notes paid off at settlement. Box 2 does not include the value of

other property or services you received or are to receive. See Box 4.

For sales or exchanges of certain real estate, the person responsible

for closing a real estate transaction must report the real estate

proceeds to the Internal Revenue Service and must furnish this

statement to you. To determine if you have to report the sale or

exchange of your main home on your tax return, see the Schedule D

(Form 1040) instructions. If the real estate was not your main home,

report the transaction on Form 4797, Sales of Business Property,

Form 6252, Installment Sale Income, and/or Schedule D

(Form 1040), Capital Gains and Losses.

Box 3. Shows the address or a legal description of the property

transferred.

Box 4. If marked, shows that you received or will receive services or

property (other than cash or notes) as part of the consideration for

the property transferred. The value of any services or property (other

than cash or notes) is not included in box 2.

Box 1. Shows the date of closing.

Box 5. Shows certain real estate tax on a residence charged to the

buyer at settlement. If you have already paid the real estate tax for

the period that includes the sale date, subtract the amount in box 5

from the amount already paid to determine your deductible real

estate tax. But if you have already deducted the real estate tax in a

prior year, generally report this amount as income on the “Other

income” line of Form 1040. For more information, see Pub. 523.

Federal mortgage subsidy. You may have to recapture (pay back)

all or part of a Federal mortgage subsidy if all the following apply:

● You received a loan provided from the proceeds of a qualified

mortgage bond or you received a mortgage credit certificate,

● Your original mortgage loan was provided after 1990, and

● You sold or disposed of your home at a gain during the first 9

years after you received the Federal mortgage subsidy.

This will increase your tax. See Form 8828, Recapture of Federal

Mortgage Subsidy, and Pub. 523, Selling Your Home.
VOID CORRECTED

OMB No. 1545-0997

Proceeds From Real

Estate Transactions

FILER’S Federal identification number TRANSFEROR’S identification number

Gross proceeds

1 Date of closing

TRANSFEROR’S name

Address or legal description (including city, state, and ZIP code)

Street address (including apt. no.)

City, state, and ZIP code Check here if the transferor received or will receive

property or services as part of the consideration 

Account number (optional)

Form 1099-S Department of the Treasury - Internal Revenue Service

FILER’S name, street address, city, state, ZIP code, and telephone no.

2

3

4

$ Form 1099-S

5 Buyer’s part of real estate tax

$

For Filer

For Privacy Act

and Paperwork

Reduction Act

Notice, see the

2002 General

Instructions for

Forms 1099,

1098, 5498,

and W-2G.

Copy C

2002
Instructions for Filers

We now provide general and specific form instructions

as separate products. The products you should use for

2002 are the General Instructions for Forms 1099,

1098, 5498, and W-2G and the separate specific

instructions for each information return you file.

Specific information needed to complete this form is

given in the 2002 Instructions for Form 1099-S. A

chart in the general instructions gives a quick guide to

which form must be filed to report a particular

payment. To order these instructions and additional

forms call 1-800-TAX-FORM (1-800-829-3676).

Due dates. Furnish Copy B of this form to the

transferor by January 31, 2003.

File Copy A of this form with the IRS by

February 28, 2003. If you file electronically, the due

date is March 31, 2003.

Caution: Because the IRS processes paper forms by

machine (optical character recognition equipment), you

cannot file with the IRS Forms 1096, 1098, 1099, or

5498 that you print from the IRS Web Site.