It is easy to import corrected 1099-S forms. Just import the form as you would with the original 1099-S. You will want to keep the versions of the form separate for later recordkeeping. To do that, you will need to:
- Create a Corrected column within the Excel spreadsheet
- Place an X in that column for each record that is to be sent as corrected
- Define that column when importing the file
While it’s important to correct all misreported forms, take special care to report corrected 1099-S forms. The 1099-S is used to report certain types of real estate sales and exchanges. There are often several parties involved in these filings:
- Clients
- Property sellers
- Banks
- Your own business
All of these entities will need the correct information by the appropriate deadline in order to deal with their own tax filings.
That puts a lot of the burden on you as the business owner to fill out and distribute any 1099-S forms. If you are worried about incorrectly reporting a Form 1099-S or missing a deadline, now may be the time to consider Advanced Micro Solutions’ comprehensive system. Using the base W-2/1099 Forms Filer and AMS Payroll add-on can deliver solutions that can help you to always report correctly, on time, and to the right entities.
Find Software for Corrected 1099-S Filings
Real estate transaction reporting is complex. If your business regularly handles transactions and corrected 1099-S forms, you might want an easier option. Our W-2/1099 Forms Filer system is a menu-driven, intuitive platform with a wide range of helpful data management technologies. You can comply with your filing requirements while having a system that files your forms quickly and efficiently.
Along with importing corrected 1099-S forms, we can help you:
- Generate hash totals
- Print tables and client letters
- Batch print for multiple payer reports
- Create a common payee file to avoid duplicate entries
All of these features are essential for folks working on the financial side of real estate. If you are curious about how our software tool can improve your reporting, download our free demo. If you have any questions, give our Sales and Information team a call at (800) 536-1099. We are glad to provide additional insight.
People Also Ask
- Is 1099 software necessary for IRS Form 1099-S? – Generally speaking, yes, because filing a lot of 1099 forms can overwhelm a real estate agency. You want a program with form generation and e-filing capabilities.
- Are there any exceptions or exemptions to filing 1099 forms? – Yes, do not submit 1099 forms if you make payments to corporations or a tax-exempt organization, or if you have accepted rent payments through a real estate agent.
This article was updated on June 1, 2026 to keep its information as fresh as possible. We update this article every six months, before and after tax season, to keep current with any changes.