Three of us co owned the property for 4 years before selling it. I was the only one who collected the rental incomes and reported rental expenses for those 4 years.
Is it true that I am the only one who need to file Form 3115 and should claim all depreciation recapture because I reported all rental incomes and rental expenses for those 4 years?
Also noting that each one of us received Form 1099-S with 1/3 of sale proceeds.
