You need to determine what income there is to report, and then determine who has to report that income between you and the other owners. The 1099-S must be reported as the IRS has received a copy. You could try to get a corrected copy from the closing attorney.
The property has a cost basis. The reportable capital gain is the difference between what the property sold for and that cost basis. When you enter the sale in the Investment Income section, you will be able to enter an adjustment for the proceeds. There will be a question that asks if any of these situations exist with the reporting of this sale. In the list, you can select 'Some or all of these proceeds do not apply to me'. TurboTax will enter a code for a nominee adjustment to the gain or loss on Form 8949.
Where do I enter the sale of a second home/investment property sale on 1099-S?
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