My co-owner was the one that lived in the property and then rented it for a few years. I had nothing to do with it other than be on the deed & mortgage. She paid everything. I never reported owning this property and now I have a 1099 S that says how much it was sold for. I only received 20% of the profit. How do I handle this on my taxes? I'm afraid the IRS will think I got more money then I did and as I said, I never reported owning it in the first place - didn't think I had to. Thank you!
