Hi All
I bought a condo using HELOC on my home back in 2020 when my son went to college. He lived there along with two other boys who paid rent to us. I treated it as a rental property in my taxes for 2020, 2021, 2022, and now 2023. I reported all the rent I collected as well as all the taxes/interest/condo fees/expenses I paid for the condo. We sold it in August 2023 for a "profit" and have gotten a 1099-S from the buyer's lawyers.
When using TurboTax this year, I put all the information for "sold rental property" and put all the sale price, when bought, depreciations,... But it never asks for 1099-S info. The only place I can put the 1099-S is when I choose "sold secondary home".
I see all the information is in the Form 4797. Is this enough or will IRS tag it for not reporting 1099-S?
Thanks in advance
Jolfa
