The attached files are examples of the 2009 E-File Magic Version of the 1099-S form. Both the corporate efile service E-File Magic 2.2 software and our processing bureau use these forms when preparing your data for mailing.

Excerpt:

Instructions for Transferor
For sales or exchanges of certain real estate, the person responsible for closing a real estate transaction must report the real estate proceeds to the Internal Revenue Service and must furnish this statement to you. To determine if you have to report the sale or exchange of your main home on your tax return, see the instructions for Schedule D (Form 1040), Capital Gains and Losses. If the real estate was not your main home, report the transaction on Form 4797, Sales of Business Property; Form 6252, Installment Sale Income; and/or Schedule D (Form 1040). If box 4 is checked and you received or will receive like-kind property, you must file Form 8824, Like-Kind Exchanges.
Federal mortgage subsidy. You may have to recapture (pay back) all or part of a federal mortgage subsidy if all the following apply. ● You received a loan provided from the proceeds of a qualified mortgage bond or you received a mortgage credit certificate.
● Your original mortgage loan was provided after 1990. ● You sold or disposed of your home at a gain during the first 9 years after you received the federal mortgage subsidy. ● Your income for the year you sold or disposed of your home was over a specified amount. This will increase your tax. See Form 8828, Recapture of Federal Mortgage Subsidy, and Pub. 523, Selling Your Home.

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