Understanding the difference between IRS 1099-H and IRS 1099-S

Last updated on Dec 8, 2025

What is IRS 1099-H?

The IRS 1099-H form is used to report the health coverage tax credit (HCTC) payments made by eligible individuals. It's primarily designed to facilitate healthcare affordability for those who qualify, assisting them in maintaining health insurance during challenging financial times.

This form is used mainly in connection with healthcare coverage for individuals who have lost their jobs due to trade adjustments or those who are receiving benefits from the Pension Benefit Guaranty Corporation (PBGC).

1.

You may need IRS 1099-H if:
2.

You are eligible for the health coverage tax credit.
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You have received payments related to qualifying health insurance premiums.
4.

You want to claim the HCTC on your tax return.

Who needs to complete an IRS 1099-H?

Individuals and entities that provide health insurance payments must fill out this form.

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Typically required for:
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Employers providing HCTC benefits.
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Health insurance recipients who qualify for the credit.
4.

Entities issuing premium payments for eligible individuals.
5.

Tax professionals handling tax filings for eligible clients.

When is IRS 1099-H due?

The IRS 1099-H form must be filed by January 31 of the year following the tax year for which the HCTC payments were made. It's crucial to ensure that it reaches the IRS on time to avoid any filing issues.

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What is IRS 1099-S?

The IRS 1099-S form is utilized to report the sale or exchange of real estate. This document helps ensure that revenues associated with real estate transactions are accurately reported to the IRS.

This form generally applies to transactions involving sales, exchanges, or certain other dispositions of real estate and is required to report gains from these transactions.

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You may need IRS 1099-S if:
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You sold real estate and realized a gain from the transaction.
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You are involved in the closing of a real estate sale.
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You need to report proceeds to the IRS from transactions involving real property.

Who needs to complete an IRS 1099-S?

Those involved in selling or facilitating the sale of real estate must complete this form.

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Typically required for:
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Real estate professionals facilitating property transactions.
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Individuals selling a residential home or other real estate.
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Title companies or brokers managing the sales process.
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Tax professionals preparing returns for clients who have sold property.

When is IRS 1099-S due?

The IRS 1099-S must be filed by February 28 for paper filings and by March 31 for electronic submissions of the year following the real estate transaction. Timely filing is essential to comply with IRS regulations and avoid potential penalties.

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Key differences between IRS 1099-H and IRS 1099-S

These two forms serve distinct purposes and apply to different situations in tax reporting. Understanding these differences helps in ensuring correct filings and adherence to IRS requirements.

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Main differences include:
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IRS 1099-H relates to health coverage tax credits, while IRS 1099-S pertains to real estate transactions.
3.

The former is used by individuals receiving HCTC, whereas the latter is filed by individuals or entities involved in selling real estate.
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1099-H is generally associated with healthcare, while 1099-S deals primarily with property sales.
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The filing deadlines for these forms differ, with 1099-H due on January 31 and 1099-S on February 28 or March 31 based on filing method.

Understanding potential penalties

Tax penalties can arise from late, incorrect, or missing filings. These can lead to fines and additional tax liabilities, which can add unnecessary stress. It's important to understand the implications of errors or delays with both 1099 forms.

Filing the IRS 1099-H late or incorrectly can result in penalties. The IRS can impose fines ranging from $50 to $530 per form, depending on how late the form is filed and whether or not the error is corrected. It can also lead to increased scrutiny in future audits if there's a history of non-compliance.

Similar to the 1099-H, the IRS 1099-S carries penalties for non-filing or incorrect reporting. Fines can vary based on the delay, amount of incorrect information reported, and if there are intentional inaccuracies. Penalties can range from $50 to $530 per form, further complicating tax situations and potentially leading to audits if not handled correctly.

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Author:

by Iryna Marchuk

Lead Writer/Blogs Manager at airSlate

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