... |
|
Section II
WHO IS SUBJECT TO THE REPORTING REQUIREMENTS
Settlement agents are required to report applicable sales or exchanges of real property on all transferors except the following:
- Corporations
- Governmental Units
- Exempt Volume Transferors
Please see below for more information on Exempt Volume Transferors and other sellers who receive special attention.
Where the real estate is sold by a partnership, the partnership is the reportable person and not the individual partners. Likewise, when the seller is a trust or an estate, the trust or estate is reported on Form 10990-S and not the beneficiaries or heirs.
If the transaction involves a relocation company, the transferor is the seller and not the relocation company.
Also see below for which transfers of real estate are subject to the reporting requirements
Additional topics:
Which Transactions are Subject to the Reporting Requirements
Exempt Volume Transferors
Multiple Sellers
Husbands and Wives
Foreign Sellers
How to Contact Us
... |
|