I know this is a stupid question, but I have not been in the loan department very long. When I am doing a HUD statement on a buyer/seller transaction, if the sellers are husband and wife, do I have to have a separate 1099S form for each person? If so, how do I specify how much each party received from the sale of the home?

Husband and wife. If the transferors were husband and wife at the time of closing, who held the property as joint tenants, tenants by the entirety, tenants in common, or as community property, treat them as a single transferor. Only one Form 1099-S showing either of them as the transferor is required. You need not request an allocation of gross proceeds if husband and wife are the only transferors. But if you receive an uncontested allocation of gross proceeds from them, file Form 1099-S for each spouse according to the allocation. If there are other transferors, you must make a reasonable effort to contact either the husband or wife to request an allocation.

Thank you very much!! That really helped.