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1099 Reporting

We are required to report certain real estate transactions to the IRS using Form 1099-S. Click here to access the “Certification for No Information Reporting…” form, which you will be required to complete at settlement. In general, reporting is not required if the property was your principal residence, was not used for business or rental purposes and the sale is for less than $250,000 for an individual or $500,000 for a married couple. We are not required to report the sale if the seller is a corporation or other business entity.

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