Yes, if you were using and reporting a separate dwelling as rental property that was included in the sale you will report the sale as two transactions. One for the rental dwelling the other for the main home. The 1099S is an informational form so you may divide the gross sale amount between your main home and the rental portion.
To report the sale of your main home follow these steps:
- Open or continue your return in TurboTax
- Search for home sale
- Select the Jump to link in the search results
- Answer Yes to Did you sell or have your home foreclosed in 2021? on the Sale of Your Main Home screen
- Follow the instructions to enter your info
To report the sale of your rental follow these steps:
- With your return open in TurboTax, search for rentals and then select the Jump to link in the search result.
- Answer Yes to the question Did you have any income from rentals or royalties?
- When you get to What are you here to report? select Rental property and fill out the description, address, and owner.
- When you hit Tell us about your situation this year check the Sold box along with any other boxes that may apply.
- Continue following the onscreen prompts to enter info about your rental property. Eventually, you'll get to the Review your rental property info screen. You can report the sale in the Expenses/Assets (Depreciation) section, along with any other pertinent info (like income and expenses)
This link https://I sold my rental property. How do I report that? has information you may find useful
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