1099-S : Proceeds From Real Estate Transactions is a simple form filed to report the sale or exchange of real estate. You are required to report a transaction that consists in whole or in part of the sale or exchange for money, indebtedness, property, or services of any present or future ownership interest in real estate. If a Uniform Settlement Statement, prescribed under the Real Estate Settlement Procedures Act of 1974 (RESPA), is used, the settlement agent must file Form 1099-S.