1099 Tax Reporting in NJ

Black River Title takes the worry out of compliance with IRS and NJ tax reporting requirements on proceeds from the sale or exchange of real property. As part of our closing and settlement services, Black River’s certified title professionals ensure that you and the IRS receive necessary information and appropriate forms in the required timeframe.

Requirements for 1099 Reporting NJ

Tax regulations are constantly changing, and new IRS rules make closing agents like Black River Title responsible for reporting real estate sale proceeds on IRS Form 1099-S. The information reported on these forms includes:

  • Name, address & tax identification number of the seller(s)
  • General description of property sold
  • Transaction closing date
  • Gross proceeds of the sale
  • Any property that was exchanged as part of the transaction
  • Name, address & tax ID of the settlement agent
  • Prepaid taxes that may have been refunded to the seller

Black River Title professionals also take care of additional reports that need to be submitted. In the state of NJ, there is a requirement that taxes be withheld when property exchanges involve non-resident sellers. Similarly, Form 1099-MISC may be required if payment for services of $600 or more resulted as part of a real estate sale.

Trusted NJ Real Estate Closing Agents

Danny May, Certified Title Professional (CTP), and his team relieve commercial and residential real estate investors, homebuilders, lenders, and brokers from the responsibility of preparing, monitoring, and filing real estate sale documents. Operating in compliance with ALTA standards and adhering to CFPB best practices, the Black River Title team keeps property closings on track and on time. To request a NJ title search, discuss title services, or schedule your property closing, call 908-979-8982 or contact us confidentially online.

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6 Canterbury Lane
Hackettstown, NJ 07840







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