I recently sold a piece of property in Arizona with an old mobile home on it. The sale was for under $50k.
There was no mortgage on the property or mobile home. My question is will I be sent a 1099? I am still waiting for one, but have yet to get it.
Answers (1)
FIRST ANSWER
I believe the person or entity responsible for the closing of the transaction is responsible for preparing the 1099-S. So, if this was a cash transaction and you handled the paperwork then you would be responsible for filling out the 1099-S. If it was an attorney or a title company, then they would. Best bet is to talk with your accountant.
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