My father recently sold his home that his been his primary (and only) residence for 20+ years. My mother passed in 1994 and left her half of the home to my sisters and myself and my father usufruct of the home. I was issued a 1099-S at the time of the closing of the sale (yesterday). Am I required to report this? It was not my primary home- but it was the primary home of the majority owner so I'm not sure what my requirements will be for 2024 tax purposes.
