Please see below for helpful FAQ's related to 1099's :

When will I get my 1099?

1099s will be electronically available no later than January 31.

I can't find my 1099 on my RSA portal?

1099s are processed by a third-party processing company. They are not available on the RSA portal. However, you can click the button above to begin your electronic retrieval process.

My 1099 seems different/ wrong?

1099's are issued based on gross commission earned as reported on the settlement statement.
To review your files, go to RSA under transactions > closings and adjust the calendar dates to the desired calendar year. If you identify a discrepancy on a specific brokerage file please fill out this form https://app.smartsheet.com/b/form/1862ad67615045bf908c8c41d8dd4781 so we can review and prepare any necessary adjustments.

Note on buyer/client credit

If you have issued a buyer/client credit, this will be captured in the gross value of your 1099. Please work with your tax advisor to account for the buyer/client credit.

Can I get a copy of my 1099?

1099s will be available for electronic retrieval on January 31, pursuant to IRS guidelines. Please visit your RSA portal for more information on how to retrieve your form.

I forgot to update my address with HomeSmart. Can I update now?

Come January, it is too late to update your address for the prior year's 1099s. To avoid delay, you can follow the electronic retrieval process above or contact 1099@hsmove.com to request a physical copy be sent to your correct mailing address. Please ensure you update your physical address in RSA for future communications.

I'm incorporated/S-Corp/C-Corp, why did I get a 1099?

Please disregard the 1099. The form is not required for corporation returns and the IRS will disregard all entities who have elected treatment as an S-Corp or a C-Corp.

Can I get a transaction report/statement?

Transaction reports related to your closing transactions are available on the RSA portal. To review your closing files you can go to RSA under Transactions > Closings and adjust the dates to the calendar year. Alternatively, you can follow the electronic retrieval process above (or at 1099.homesmart.com) to pull your 1099 along with your transaction report/statement.

If you need information regarding the fees you have paid HomeSmart please email Billing@hsmove.com for your statement.

If you have a question or inquiry related to your Fee statement, please contact Billing@hsmove.com.

I have an entity now, can I get a revised 1099?

1099s must be issued the same way the disbursement was issued. Please contact Agent Services to ensure your entity is set up correctly for the current year, and provide a copy of your entity W-9.

If you have a dispute regarding a transaction which should have been on your entity, please fill out this form https://app.smartsheet.com/b/form/1862ad67615045bf908c8c41d8dd4781 so we can review and prepare any necessary adjustments.

Please note, your entity needs to be the registered party with the Department of Real Estate at the time of transaction. If your entity was created in the current year, you cannot obtain a 1099 addressed to your entity. Please contact Agent Services to ensure your entity is set up correctly for the current year.

If your entity was created mid-year, you may receive two 1099s (one will be addressed to your licensed entity and the other to your licensed individual). We are required to follow the dates per your license registration with the department of real estate and the settlement statement.

The EIN on my 1099 is incorrect, what should I do?

Please notify us immediately at 1099@hsmove.com and provide an updated W-9 with your email communication. HomeSmart will need to issue a corrected 1099 with the correct tax id number.

It will be available in your electronic retrieval within one business day.

I had no transactions for the year, should I expect a 1099?

No. You must have a minimum of $600 in earnings to receive a 1099.

Helpful link regarding IRS requirements from NAR:

https://www.nar.realtor/legal/irs-requires-reporting-of-cooperative-commissions