Here is a link with some discussion on the 1099S. Many times if the sale price exceeds the purchase price the closing agent will issue a 1099S and definitely if the sales "proceeds" exceed $250,000 since that is a requirement.
Talk with your closing agent to get the answer for sure.
So it appears you should be getting a 1099S for proceeds over $250,000 and be reporting the sale on your tax return and be able to exclude $250,000 of gain ($500,000 if married and jointly owned).
You will report the transaction and exclusion in the "Less Common Income" section using the "Sale of home" topic.
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