Vinopal Title and Abstract

I wanted to follow up with the Revdex.com regarding three additional emails I had received after complaining to the Revdex.comI wish to thank you very much for you help in actually getting them to reply and consider the issue which has dragged on for over a monthUnfortunately, they never acknowledge the issue and questions being asked of them, and continue to focus on speculations and providing answers that do not suit what was asked For example I asked why they refused to provide a copy of a 1099s to my exchange intermediary with our permissionThe answer from ***, was regarding who the is supposed to be sent toThey also refuse to contact safe harbor exchange whose information was provided to them over and over againSafe harbor exchange inc specializes in exchanges, and has a CPA specialist on staffI offered them to call other national exchange intermediaries, they ignored this request and informed me about how they have been in business for years, and years prior to the 15, and how they have called three accountants who told them they are right I asked for the contact information of these accountants and their experience with handling exchanges, and they refuse to provide their contact information or to call safe harbor exchange or any exchange specialistThe owner even replied by email that my insistence on the issue has raised a red flag, and went off on a tangent that has nothing to do with our issues at handWith regard to his claim of best practices, I was the only contact throughout the entire transaction and edified the agent on what cost of area maintenance meant in a commercial transactionI have been their only contact since day one and I have been disappointed since the beginning of the transaction and I am disappointed even now at heir unwillingness to call an exchange intermediary or to help usI will forward a complete copy of the emails sentLastly, there are additional issues regarding misquoted pricing, poor customer service, and the closing of the transaction without our permission in October of and prior to documents being fully signed by all partiesThey completely ignored these issues and never even addressed themIt appears they are unwilling to help, and I wish hey would have said so a month agoWhat else can the Revdex.com do? Best Regards, ***

I am in receipt of the complaint filed by *** *** as to his issue with our process surrounding the issuance of a for a recent real estate transactionIn response to Mr*** claims I have attached an email I recently sent to him addressing these issuesMr*** numerous emails as well as calls have all been replied to by either *** ***, my Closing Coordinator, *** Vinopal, co-owner and most recently myselfIf there was a delay as to any response it was do to the fact that we needed the time to research what Mr*** was asking us to doMy email to Mr*** should shed light on our side of the transaction appropriatelyMy concern now is that Mr*** had nothing to do with this particular saleA limited liability company was the seller and the member of that company which signed our closing documentation was a Helga ***I will assume that he is a relative of some sort, but he has no authorization on file we me to make any requests or ask for information from meA copy of the was not sent to the intermediary as it is not customary to share thatThe seller is always provided a copy of the 1099, they may choose to share that with the intermediary, so my return question is why did Mr*** simply not forward the to them himself? At this point I have closed this matter with Mr***
*** ** ***
Vinopal Title and Abstract, Inc*** *** ***
*** *** ** ***
*** *** *** ***
-----Original Message-----
From: *** *** ***
To: *** ***
Cc: *** *** *** *** *** ***
Sent: Mon, Mar 2, 03:PM
Subject: RE: 1099s from escrow for exchange on mall dr
***
As a brief background,
Vinopal Title has been in existence for the past years and prior to that I
worked for another title company for yearsI can speak for
the last years as the owner, that we have always issued the 1099's that
way and until your recent request we have never had anyone call requesting us
to change this in such a waySince no one has and whether it is right or
wrong, your persistent request for us to change our threw up a red flag
Not that I am one to dismiss a clients request but you must afford me the right
to research and consult what you are askingI am not an accountant and from
what I gather either are youI have spoken to my personal accountant as
well as three others in the Eau Claire community each who are partners
with respected national based firmsAll responded the sameIt is our
duty as the title company to report what we knowThe gross sales
price. The issued as such along with a copy of our HUD is more
than enough for any tax advisor to accomplish tax reporting for the
seller. Now a may be held to a different standard in this
instance, however, each accountant I called asked the same
questionDid Vinopal Title handle both ends of the sale? The short
answerNoWe have no idea if the seller completed the 1031. Even if they
did complete it, we have no idea what portion of the proceeds were
usedA seller may choose to only use a portionIt appears that since this
sale occurred in late October of 2014 we issued the correctlyFor
the sale that occurred in 2014. At this point I will assume the
replacement property has not yet been purchased. In order to
complete the sellers income taxes, which I assume is the reason for the
request, that an extension would need to be filed by the sellers tax
advisor with the IRS in order to allow for time to complete the purchase and
report accordingly with both the information supplied by Vinopal Title and with
the information provided by the intermediary
There are a last few
items to be addressedBoth you and Heather, *** and now myself have spent an
inordinate amount of time addressing this issueWe are also in receipt of your
complaint with the Revdex.com which we will respond to in kind
Finally, I may have missed it in a prior email, but I am unsure of what your
relationship is in this
transaction? I know that all documentation is signed by Helga *** and with a
same last name I can guess that you are related? With our Best Practices, we
normally only deal with the customers directly involved with the transaction or
their respective counsel. This all being said, at this time we will agree
to disagree on how this is to be issuedWe strive to make our customer
service impeccable and unfortunately in some instances parties will disagreeI
believe that my due diligence in seeking an accounting answer is justifiable
enough to know that my is issued correctlyIt is now up to Helga's New
York tax advisor to finish the paper work once she completes her exchangeI
will now consider this matter completed with us
*** ** ***
*** *** *** *** ***
Regis Court
Eau Claire, WI
*** *** *** ***

I wanted to follow up with the Revdex.com regarding three additional emails I had received after complaining to the Revdex.com. I wish to thank you very much for you help in...

actually getting them to reply and consider the issue which has dragged on for over a month. Unfortunately, they never acknowledge the issue and questions being asked of them, and continue to focus on speculations and providing answers that do not suit what was asked. 
For example I asked why they refused to provide a copy of a 1099s to my 1031 exchange intermediary with our permission. The answer from [redacted], was regarding who the 1099 is supposed to be sent to. They also refuse to contact safe harbor exchange whose information was provided to them over and over again. Safe harbor exchange inc specializes in 1031 exchanges, and has a CPA specialist on staff. I offered them to call other 1031 national exchange intermediaries, they ignored this request and informed me about how they have been in business for 15 years, and 12 years prior to the 15, and how they have called three accountants who told them they are right.
 I asked for the contact information of these accountants and their experience with handling 1031 exchanges, and they refuse to provide their contact information or to call safe harbor exchange or any exchange specialist. The owner even replied by email that my insistence on the issue has raised a red flag, and went off on a tangent that has nothing to do with our issues at hand. With regard to his claim of best practices, I was the only contact throughout the entire transaction and edified the agent on what cost of area maintenance meant in a commercial transaction. I have been their only contact since day one and I have been disappointed since the beginning of the transaction and I am disappointed even now at heir unwillingness to call an exchange intermediary or to help us. I will forward a complete copy of the emails sent.
Lastly, there are additional issues regarding misquoted pricing, poor customer service, and the closing of the transaction without our permission in October of 2014 and prior to documents being fully signed by all parties. They completely ignored these issues and never even addressed them.
It appears they are unwilling to help, and I wish hey would have said so a month ago. What else can the Revdex.com do?
Best Regards, [redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
[To assist us in bringing this matter to a close, we would like to know your view on the matter.]
 
 Hi [redacted], or Revdex.com designate,
I wanted to follow up with the Revdex.com regarding three additional emails I had received after complaining to the Revdex.com. I wish to thank you very much for you help in actually getting them to reply and consider the issue which has dragged on for over a month. Unfortunately, they never acknowledge the issue and questions being asked of them, and continue to focus on speculations and providing answers that do not suit what was asked. 
For example I asked why they refused to provide a copy of a 1099s to my 1031 exchange intermediary with our permission. The answer from [redacted], was regarding who the 1099 is supposed to be sent to. They also refuse to contact safe harbor exchange whose information was provided to them over and over again. Safe harbor exchange inc specializes in 1031 exchanges, and has a CPA specialist on staff. I offered them to call other 1031 national exchange intermediaries, they ignored this request and informed me about how they have been in business for 15 years, and 12 years prior to the 15, and how they have called three accountants who told them they are right.
 I asked for the contact information of these accountants and their experience with handling 1031 exchanges, and they refuse to provide their contact information or to call safe harbor exchange or any exchange specialist. The owner even replied by email that my insistence on the issue has raised a red flag, and went off on a tangent that has nothing to do with our issues at hand. With regard to his claim of best practices, I was the only contact throughout the entire transaction and edified the agent on what cost of area maintenance meant in a commercial transaction. I have been their only contact since day one and I have been disappointed since the beginning of the transaction and I am disappointed even now at their unwillingness to call an exchange intermediary or to help us. I will forward a complete copy of the emails sent.
Lastly, there are additional issues regarding misquoted pricing, poor customer service, and the closing of the transaction without our permission in October of 2014 and prior to documents being fully signed by all parties. They completely ignored these issues and never even addressed them.
It appears they are unwilling to help, and I wish they would have said so a month ago. What else can the Revdex.com do?
Best Regards, [redacted]
See below the entire email chain sent to heather who repeatedly ignored my emails and calls and even lied telling me she was checking bod 4 and then not doing so, please see below. He multitude of issues were not even addressed nor apologized for.
Hi [redacted] or Revdex.com designate, 
Bellow in the history is the email chain of all correspondence sent to vinopal title and abstract to date. As you can see there is a misunderstanding regarding what is being asked, and apparently it is beyond my ability to relay to them in my email replies...
Your help and assistance is greatly appreciated. Complaint ID [redacted]. Feb 25 2014
Please see below -----Original Message----- From: [redacted] To: [redacted] Cc: [redacted] Sent: Mon, Mar 2, 2015 05:09 PM Subject: Re: 1099s from escrow for 1031 exchange on 2901 mall dr. [redacted]
I appreciate the lengthy reply, there must be a misunderstanding as the 1099 is issued correctly with the exception of box number 4 not being checked. I provided safe harbor exchanges contact information. I am happy to prove an exchange occurred in which all of the funds were dispersed. I am not questioning your experience or the validity of your work, I only requested that you guys check box number 4 to make things easier. Please call any exchange intermediary, and ask them if you should do the aforementioned, and they will tell you it is the proper procedure. That is all I am asking you to do, anything else is hearsay and a misunderstanding regarding what was being asked. It is all about box number 4. Not the amount, just box number 4. You report the entire amount and HK's CPA proves the rest with supporting documentation.
Also, [redacted] does not have a New York CPA, she has a California CPA and an Idaho tax advisor. I am New York and Seattle based and I assist with her real estate endeavors. Please don't allow anyone's personal opinions or misconceptions about me to reflect negatively on HK Southpoint.
There also was a failure at the time of the transaction regarding the agent who handled it not knowing what cam meant, claiming HK would pay for two notes, advising the buyer that he does not have to agree to our requests, and lastly, the closing occurred without HK south point  permission, and this was discovered 7 hours after it happened, before all documents were even completed. There was even a discrepancy in price that I was quoted that totals a few hundred dollars. When you add in all of the above, all of the wasted time and energy in requesting box number 4 be checked in cooperation with safe harbor exchange, then you can understand why I had to contact the Revdex.com as an initial step prior to leaving reviews on social media review websites. If someone at vinopal would have just flat out said "we are not changing anything because we don't like you and we will not help you because chances are you will not be using us again, tough luck" I would have said ok fine, case closed and done nothing more. I am a man of my word. Instead I was forced to call many times and follow up with voicemails and messages, and emails for over a month without any regard for my time spent on this. Heather even said she was correcting it, and then said it was correct as is and box 4 will not be checked over a week later.
I still am at a loss as to why you can't check box number 4 and as a goodwill gesture followup with safe harbor exchange. I want nothing more and nothing less than some tangible benefit for all my time unnecessarily spent on this.
Kind Regards, [redacted]
Sent from AOL Mobile Mail -----Original Message----- From: [redacted] [redacted] 
[redacted] [redacted] Cc: [redacted] [redacted] [redacted] Sent: Mon, Mar 2, 2015 03:59 PM Subject: RE: 1099s from escrow for 1031 exchange on 2901 mall dr. 
[redacted]
 
As a brief background, Vinopal Title has been in existence for the past 15 years and prior to that I worked for another title company for 12 years. I can speak for the last 15 years as the owner, that we have always issued the 1099's that way and until your recent request we have never had anyone call requesting us to change this in such a way. Since no one has and whether it is right or wrong, your persistent request for us to change our 1099 threw up a red flag. Not that I am one to dismiss a clients request but you must afford me the right to research and consult what you are asking. I am not an accountant and from what I gather either are you. I have spoken to my personal accountant as well as three others in the Eau Claire community each who are partners with respected national based firms. All responded the same. It is our duty as the title company to report what we know. The gross sales price. The 1099 issued as such along with a copy of our HUD is more than enough for any tax advisor to accomplish tax reporting for the seller. Now a 1031 may be held to a different standard in this instance, however, each accountant I called asked the same question. Did Vinopal Title handle both ends of the sale? The short answer. No. We have no idea if the seller completed the 1031. Even if they did complete it, we have no idea what portion of the proceeds were used. A seller may choose to only use a portion. It appears that since this sale occurred in late October of 2014 we issued the 1099 correctly. For the sale that occurred in 2014.  At this point I will assume the replacement property has not yet been purchased.  In order to complete the sellers income taxes, which I assume is the reason for the request, that an extension would need to be filed by the sellers tax advisor with the IRS in order to allow for time to complete the purchase and report accordingly with both the information supplied by Vinopal Title and with the information provided by the intermediary.
 
There are a last few items to be addressed. Both you and Heather, [redacted] and now myself have spent an inordinate amount of time addressing this issue. We are also in receipt of your complaint with the Revdex.com which we will respond to in kind. Finally, I may have missed it in a prior email, but I am unsure of what your relationship is in this transaction? I know that all documentation is signed by [redacted] [redacted] and with a same last name I can guess that you are related? With our Best Practices, we normally only deal with the customers directly involved with the transaction or their respective counsel. This all being said, at this time we will agree to disagree on how this 1099 is to be issued. We strive to make our customer service impeccable and unfortunately in some instances parties will disagree. I believe that my due diligence in seeking an accounting answer is justifiable enough to know that my 1099 is issued correctly. It is now up to [redacted] New York tax advisor to finish the paper work once she completes her exchange. I will now consider this matter completed with us.
 
 
[redacted]
Vinopal Title and Abstract, Inc.
[redacted]
 
From: [redacted]Sent: Friday, February 27, 2015 4:26 PMTo: [redacted] VinopalCc: John VinopalSubject: Re: 1099s from escrow for 1031 exchange on 2901 mall dr.
Hi [redacted],
Please contact Alicia at [redacted] at Safe Harbor Exchange at your earliest. Safe Harbor requested a copy of the 1099 and was denied, we are aware that they do not receive a copy of the 1099. Usually requests are met as a courtesy with the permission of the client. There were also other questions in the email that are still unanswered, but as stated earlier I am willing to let bygone be bygone in exchange for cooperation.
I agree [redacted] it is Vinopal's responsibility to report the sale accurately and to check box number 4. If vinopal despite having wired the funds directly to an intermediary and distributed and signed the 1031 agreement still does not trust that an exchange will occur, then would you be so kind as to hold the 1099 until march 14th and verify that closing has occurred on a replacement property? If you have already submitted it, would you be so kind as to submit an updated corrected 1099s upon verification that closing has occurred. It seems for whatever reason it appears that Vinopal Title and it's employees do not trust that a woman in her mid 70s is engaging in the exchange they helped initiate with the intermediary they wired the funds to in full on October 31st.
I also am confused when you say Vinopal issued the 1099 correctly, when the IRS instructions provided in the emails below, and the 1099s website instructions as well as the advice of California tax counsel, and three different exchange companies indicate that checking box 4 is the correct way to report a 1099 in which the IRS should expect a form 8824.
All I am asking for is a return of the goodwill I had shown vinopal Title, and I request a return of this goodwill gesture by receiving cooperation in this matter. Checking box number 4 would close this, it is a very small and justifiable request. If you would like documentation which is unnecessary, I am willing to go above and beyond and provide it.
There were quite a few poor customer service issues during the transaction, and now once again after with the 1099. Naturally these issues are no longer in your control, the request being made here is, and here is vinopals opportunity to make things right just by following the instructions on the IRS website and 1099 website and checking box number 4.
Thank you for your help and understanding, and I look forward to the favorable resolution of checking box number 4.
I wish you a great weekend,
Kind Regards, Steve
Please see below:
 
from the irs website the 1099s form instructions.
 
http://www.irs.gov/pub/irs-pdf/i1099s.pdf
Box 4. Check Here if the Transferor Received or Will Receive Property or Services as Part of the Consideration
If the transferor received or will receive property (other than cash and consideration treated as cash in computing gross proceeds) or services as part of the consideration for the property, enter an “X” in the checkbox in box 4.
Also see the attached screenshot, at the bottom left of page 4 on IRS instructions it states what to do when reporting a like kind exchange.
 
 
http://www.1099-s.com/A1099sVIII.html
 
 
The reporting of exchange transactions is different from the reporting of sales in only two areas.
Gross proceeds
The checkbox in Box 4 of Form 1099-S
Gross ProceedsThe regulations state that in the event of an exchange the cash or cash equivalent (known as "boot") is to be shown as the gross proceeds rather than the sales price. Unfortunately, particularly in the case of delayed or deferred exchanges under §1031 of the Internal Revenue Code, it is not always known what will be the boot amount. Neither the settlement agent nor the transferor (exchangor) will necessarily know the boot amount at the time of closing.
If the boot amount is unknown at the time the input sheet is completed, the gross proceeds box should be the total consideration.
If the transaction involves a delayed or deferred exchange, the transferor for Form 1099-S purposes is the exchangor and not the accommodator.
Check the BoxFor exchange transactions, check the box to indicate that other property or services will be received by the transferor as part of the consideration.
 
 
-----Original Message----- From: [redacted] [redacted] To: [redacted] [redacted] [redacted] Cc: [redacted]...⇄ Fri, Feb 27, 2015 09:25 AM Subject: RE: 1099s from escrow for 1031 exchange on 2901 mall dr. 
Mr. [redacted],
The intermediary in a 1031 exchange does not receive the 1099. The 1099 is issued to the seller, which was HK Southpoint, LLC.  It is our responsibility to report the sale transaction. It is HK Southpoint's responsibility to have their accountant file the necessary documentation with their taxes proving that a 1031 exchange has taken place. I am sorry there has been so much confusion in this matter. We consider this issued closed and that Vinopal Title has issued the 1099 correctly.
Atty. [redacted] R. Vinopal
Vinopal Title and Abstract
[redacted] [redacted]
From: [redacted]Sent: Thursday, February 26, 2015 4:39 PMTo: [redacted]Cc: [redacted] [redacted]Subject: Re: 1099s from escrow for 1031 exchange on 2901 mall dr.
Sure heather, I appreciate that you finally have gotten back to me. I have a few questions which have been relayed before over and over again. I will ask them again. If you are unable to answer them please forward them to someone familiar with the closing of this transaction. 
Who received the sales proceeds in full? 
Was it HK or was it Safe Harbor Exchange INC?
 Why was safe harbor exchange denied a 1099?
 Why was the transaction closed without permission from the seller?
Who are these multiple certified public accountants and 1031 exchange advisors you claim to have spoken to? 
Please provide a list of their qualifications and experience with this type of transaction involving the new rules of the 1099s as provided in my original email which you disregarded. 
Please provide their contact information as well. 
As you are well aware it is Vinopal's responsibility to report the sale proceeds to the IRS and indicate accurately when there is a 1031 exchange regarding the sales proceeds. The IRS created a box number 4 option for this exact reason. You report the entire gross proceeds and you check box number 4. What is so difficult about resolving this issue and calling safe harbor exchange? The responsibility for the exchange then shifts to Safe Harbor to facilitate the exchange, in the event the exchange fails safe harbor reports accordingly. Please contact safe harbor exchange, ask for Alicia, and verify this yourself. Apparently, you desire to go above and beyond your duties here to inconvenience and delay the resolution of a senior citizens concern. 
 You indicated over the phone that this would be resolved in time for the 18th and then said something entirely different in your two sentence reply email that came over a week delayed. The transaction and its woes were in the past, and I intended to leave it there even though it was not completely smooth, but your refusal to cooperate with my tax counsel, and 1031 exchange company regarding the 1099 is exacerbating the issue and warranting further action. After weeks of fruitless attempts, it is unfortunate that the initial stage of further action had to be taken.
I respectfully request one final time to avoid any further action on this matter that you forward this issue to your manager and have your manager provide an equitable resolution. It is the right thing to do. 
Kind Regards, Steve
-----Original Message----- From: [redacted] [redacted] To: [redacted] [redacted] Cc: [redacted] < [redacted] * [redacted] Sent: Thu, Feb 26, 2015 04:05 PM Subject: FW: 1099s from escrow for 1031 exchange on 2901 mall dr. 
Good Afternoon [redacted]
 
In response to you your voicemails and emails – the 1099s drafted by Vinopal Title & Abstract is correct and will be reported that way.  We have made several calls and have had several discussions with CPA’s each one of them agrees that the documentation you will need that pertains to your 1031 will come from that company.  Vinopal Title & Abstract deals solely with the sale and reports accordingly.  Being aware of a 1031 does not justify that the 1031 was completed correctly or at all for that matter.  If we, as your closing agent, had handled the other side of your 1031  transaction then YES there is another way of handling it but that is not the case in this situation.
 
If there is anything further that we can assist you with please let me know!  Thank you.
 
[redacted]
Vinopal Title & Abstract
Direct Phone [redacted]
Phone [redacted]
Fax ([redacted]
 
From: [redacted] Sent: Wednesday, February 25, 2015 1:09 PMTo: [redacted]Subject: FW: 1099s from escrow for 1031 exchange on 2901 mall dr.
 
Please tell me that this has been taken care of.
 
Atty. [redacted]
Vinopal Title and Abstract
[redacted] [redacted]
[redacted] [redacted]
 
From: [redacted]Sent: Monday, February 23, 2015 4:53 PMTo: [redacted]Subject: Fwd: 1099s from escrow for 1031 exchange on 2901 mall dr.
Hi [redacted],
 
I had left you a voicemail on Thursday trying to connect with you regarding heathers refusal to fix the 1099s and check box number 4 as has been requested by safe harbor exchange our 1031 intermediary to which vinopal wired the funds at closing. 
 
The email chain I sent to heather is provided below for your convenience. Your urgent response and attention to this matter is requested.
 
Regards, [redacted] 
Sent from AOL Mobile Mail-----Original Message-----From: [redacted]To: [redacted]Sent: Thu, Feb 19, 2015 02:01 PMSubject: RE: 1099s from escrow for 1031 exchange on 2901 mall dr.
After consulting with our CPA and the 1099 sent is correct.  The HUD-1 Settlement statement and corresponding 1031 documentation should be enough for tax purposes. 
 
[redacted]
Vinopal Title & Abstract
[redacted]
 
From: [redacted] Sent: Tuesday, February 17, 2015 6:38 PMTo: [redacted]Subject: Fwd: 1099s from escrow for 1031 exchange on 2901 mall dr.
 
Hi [redacted]
 
Hope you had a great holiday weekend, just following up on if we resolved the checked box issue on the 1099s form? I am following up because the draft sent in the mail had a February 18th deadline. I believe your secretary informed me on friday that everything was set, And you would reply to the email.
 
I appreciate your follow up and please let me know if the information was enough, or if we need to put you in contact with safe harbor's CPA. Copy of the original email sent is below for your convenience.
 
Best Regards, [redacted]Sent from AOL Mobile Mail-----Original Message-----From: [redacted]To: [redacted]Sent: Wed, Feb 11, 2015 06:08 PMSubject: 1099s from escrow for 1031 exchange on 2901 mall dr.
Hi [redacted]
 
Hope all is well with you, I had spoken to [redacted], and gotten your email as this might be a better way to exchange information since we keep missing each other via phone. I can have my tax advisor try and call you (he is not my client [redacted] [redacted]s tax advisor) but I do not think that is a good idea as he is a very crass New Yorker and he has already shared his opinions with me regarding title companies who have this issue with 1031 exchanges. I don't see any value in putting a busy CPA on the phone with an escrow agent who both disagree and believe they are right. That said, I am trying to see if I can get safe harbor exchange to give you a call regarding the exchange and it's reporting on 1099s or perhaps their in house CPA if the IRS website and 1099 instructions are not convincing.
 
I did want to point out and together research some rules of the 1099s  with a reference to the IRS website as well as a reference to the 1099s website. When reporting a like kind exchange, without knowledge of boot received, you can do as you already have and put the gross proceeds on top, but check box number 4 which indicates a 1031 exchange was initiated. You wired the money to a 1031 intermediary, not to my client HK which means you guys did facilitate a 1031 exchange, ask Pam where she sent the money? It was to Safe Harbor Exchange as QI and it is even written on the statement, I don't think any title company can barter with property and have it qualify as a 1031 per IRS rules without their being an acting QI involved, just ask [redacted]h Vinopal she is familiar enough with the rules of an IRC 1031. I think sometimes in a large 1031 transaction in which the title company has extremely limited experience, that we tend to unnecessarily complicate things on the side of caution and in the end my client [redacted] suffers the inconvenience of an audit. 
 
Please see below:
 
from the irs website the 1099s form instructions.
 
http://www.irs.gov/pub/irs-pdf/i1099s.pdf
Box 4. Check Here if the Transferor Received or Will Receive Property or Services as Part of the Consideration
If the transferor received or will receive property (other than cash and consideration treated as cash in computing gross proceeds) or services as part of the consideration for the property, enter an “X” in the checkbox in box 4.
Also see the attached screenshot, at the bottom left of page 4 on IRS instructions it states what to do when reporting a like kind exchange.
 
 
http://www.1099-s.com/A1099sVIII.html
 
 
The reporting of exchange transactions is different from the reporting of sales in only two areas.
Gross proceeds
The checkbox in Box 4 of Form 1099-S
Gross ProceedsThe regulations state that in the event of an exchange the cash or cash equivalent (known as "boot") is to be shown as the gross proceeds rather than the sales price. Unfortunately, particularly in the case of delayed or deferred exchanges under §1031 of the Internal Revenue Code, it is not always known what will be the boot amount. Neither the settlement agent nor the transferor (exchangor) will necessarily know the boot amount at the time of closing.
If the boot amount is unknown at the time the input sheet is completed, the gross proceeds box should be the total consideration.
If the transaction involves a delayed or deferred exchange, the transferor for Form 1099-S purposes is the exchangor and not the accommodator.
Check the BoxFor exchange transactions, check the box to indicate that other property or services will be received by the transferor as part of the consideration.
 
Kind Regards, [redacted]