If you sold the lake home for the the amount you paid for it (there was no capital gain), it is OK if you did not report the sale on your 2014 tax return.
If you sold it for more than your cost basis (and it was not your primary home), you should have reported the gain.
If you sold it for less than your cost basis, you were not allowed to claim a capital loss, since it was sold to family. So, again, it ws OK not to report it on your tax return. Your son's cost basis, in that case, is a little tricky. Reply back for details, if needed.
