Section 87 IRS Certification Form for Reporting Exemption on the Sale or Exchange of a Principal Residence
| Library | Farm Law 2006 Forms |
This form may be completed by the seller of a principal residence. This information is necessary to determine whether the sale or exchange should be reported to the seller and to the Internal Revenue Service (IRS) on Form 1099-S, Proceeds From Real Estate Transactions. If the seller properly completes Parts I and III, and makes a "yes" response to assurances (1)(4) in Part II, no information reporting to the seller or to the IRS will be required for that seller. The term "seller" includes each owner of the residence that is sold or exchanged. Thus, if a...
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