I bought my primary home in 2012 for 200k. Lived in the house for 6 years - everyday till Dec 2018. We moved to different house in Dec 2018. Home was vacant from Dec 8 to Jan 12 .Rented it from Jan 2019 to Nov 2019. Sold it in Nov 2019 for 310k. My question is do I have to do all the reporting on this as a rental property, depreciation etc ? Can I select this as sold my primary home ? if yes then where do I report the rental income and expenses (property tax, insurance, repairs from Jan 2019 to Nov 2019). I am still yet to file my 2019 taxes by Oct 15 2020. During the sale closing, the closing agent asked if I ever rented out the house. I said yes. So she said I will get a 1099-S from the Title company. I got that in mail in March 2020. So trying to figure out. Please advise
Update 1: I did not take any depreciation or any rental activity Sch E etc on the 2018 taxes. Nothing.
Update 2: My main question is that do I report this as Sale of Primary Residence OR Sale of Asset ? My main worry is whether IRS will see this as a taxable capital gain of asset from Jan 2019 to Nov 2019 ? If so how do I even formulate what is the asset cost basis as of Jan 2019 ? I am really hoping I can avoid the complications and that I can just show this as sale of primary residence and all capital gains excluded because this was my first and only primary home and no other home sold ever in my life. And then just report all the rental income, no depreciation and be done with it.
