I received a 1099S but the Gross proceeds amount shows $199,750.00 which is half of the sale price. They could have put the correct amount given to each of us (me 25% and my ex 75%) because they are the ones that divided the profit amount that way to each of us and not the way it is stated on the 1099S.
Anyway, since I got a 1099S, I guess I do have to claim it even though I qualify for the exemption because it is under $250,00 and we lived in the house for over 11 years, is that correct?
