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:
- 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
Which Transactions are Subject to the Reporting Requirements
Exempt Volume Transferors
Husbands and Wives
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