@ching19 wrote:
Btw, I didn't receive any 1099-S, do I still have to report?
Abso-fricken-lutely. When selling rental property, you have to recapture (pay tax on) all the depreciation that you claimed or could have claimed when it was a rental. Then you have to pay regular capital gain tax on any additional gain, unless this was your personal home before you turned it into a rental, and depending on certain time rules.
Exactly how to report it in Turbotax will depend on whether it was ever your personal home before you turned it into a rental, or was always only a rental.
Just because the IRS doesn't get a 1099-S for you doesn't mean you don't owe the tax. If audited, you would owe back taxes with interest and penalties for failing to report this income.
We can talk about capital gains and depreciation more if you need that info. It will help to know if this was ever your main personal home, and the various dates you bought, converted to rental, and sold.
