I have a similar question and wanted to make sure I understand this correctly. My boyfriend bought me out of the house we co-owned. Basis $175k. Sold for 231k but part of that was not realized but just a release from debt. I had not lived there for over 8 years and it was not an investment in that he did not pay me rent. We have no written agreement as a divorced couple would have. If I don't get a 1099S does that mean I don't have to pay taxes on the gain? If I do get a 1099S then do I pay taxes? If so can I add half of the original closing costs to the basis?
Thanks for your help!
