1099-S Information Inaccurate
I received a 1099-S when closing on my house. It has the incorrect sale date listed on the form. The original closing date we changed after realizing that banks were closed that day. Should I file with the date listed on the 1099-S or the accurate sale date? Will it matter as long as I report the sale? All the other information is correct on the form and I have the rest of the closing documentation in case this is questioned.
Comments
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Does it make a difference? Were the dates in two different tax years? Does it change the holding period so that it affects short-term vs. long-term status?
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No same tax year.
No, same tax year, just days apart. My spouse and I were both listed on the sale. I met the exclusion and she doesn’t, we have two separate 1099-s splitting the net proceeds and are filing separate. As long as it that same tax year i’m assuming the date on the 1099-s works then?
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Hello sammypaige,
You are correct that the date being off by a few days will not be an issue. You would enter the actual sold date on your return. As you said, you have the closing documents to explain the discrepancy in the date, if needed.
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