Find the Best Software Support for Your Form 1099-S Filings

For those who don’t regularly deal with this filing requirement, Form 1099-S is the go-to form for indicating the sale, purchase, or transfer of real estate property. The form is filed to determine the sale’s effect on capital gains tax, tax deductions, and other adjustments that may be made as the result of a real estate transaction. Because of the wide range of entities that file this real estate form, there are also very diverse needs when it comes to the ideal software support for these filing forms. Luckily, AMS has made it easy.

Form 1099-S Filing Responsibilities

Often, figuring out who is responsible for filing form 1099-S is just as complicated as preparing and filing the form itself. In many ways, this complexity mirrors the diverse and legalistic ways in which real estate may change hands. Here’s a brief overview of who is most likely responsible for filing, but you can find a more complete analysis from the IRS’s own site.

  • The person or entity responsible for closing the real estate transaction is typically responsible for filing form 1099-S. One of the most common ways of determining this identity is to look at the Settlement Statement and see who is listed as the settlement agent on this document.
  • For those real estate transactions in which no one is responsible for closing, the person most likely to be designated as the filer follows this order: 1) mortgage lender, 2) transferor’s broker, 3) transferee’s broker, 4) the transferee.
  • For some real estate deals, to simplify or clarify who is responsible, there may be a separate written agreement, known as a Designation Agreement, indicating who is responsible.

Our Software Solutions and Business Clients

The W-2/1099 Forms Filer from Advanced Micro Solutions (AMS) offers several essential software support features for w-2 and 1099 filings. This includes 1099-S, as well as 1099 forms Q, R, DIV, INT, and more. AMS is well-equipped to offer software solutions to real estate companies and attorneys, as well as banks and other mortgage lenders. You need an easy-to-learn and versatile software, and that’s exactly what AMS can provide.

No matter the type of firm, our business clients have fallen in love with our intuitive, menu-driven format. We encourage you to check out our Testimonials page to discover exactly what our clients have to say about us.

Our Modular Software

Along with the format and functionality of the Forms Filer itself, this platform also generates the module interaction necessary to build custom software packages. Consider the following modules in developing the best possible software solution for your business:

  • Thinking about bringing your payroll operations in house? You’ll want to check out AMS Payroll. Along with Software-Generated Forms, you can also print your own MICR checks.
  • Make payments to foreign persons or foreign financial institutions? Take a look at our 1042-S Filer.
  • What about e-filing your quarterly and end-of-year tax returns? We have two different options (E-File Direct and E-File Services) that create flexible business solutions.
  • You can also find support for more specialized forms with our ACA Filer and Forms Filer Plus

To see our software in action, download our free software demo. Then, buy your software directly online, or you can talk to our Sales and Information team (800-536-1099) if you have lingering questions about your AMS software purchase.

Software Solutions from AMS

Our W-2 and 1099 Forms Filer is our only required platform. From there, users pick the services they need. Choose from the tools below to build out your customized accounting software.