My partner and I owned a townhome under joint tenancy (JTWROS). The townhome was rented from 2010-2020 and I claimed 100% of the rental income and depreciation for the property on my taxes. In 2021 we stopped renting it and my partner used it as a primary residence while I was living in a different state. I filed my 2021 tax return reflecting that the rental was converted to a primary home and did not claim any rental income or depreciation. We sold the property in August 2022 for $295,000. The 1099-S shows both our names but only my partner's Social Security Number in the TIN, and shows the full gross proceeds of the sale. I did not receive a separate 1099-S. We also personally agreed that he is keeping all the profits from the sale of the townhome. Can my partner report the full proceeds under his taxes or do I also still need to report it? Does he need to include the total depreciation that I took for the property from 2010 - 2020 which amounts to almost $54,000? Thanks in advance.
