- Yes, you will indicate that this asset was included in the sale of your main home. If it was, you may qualify to exclude some portion of the gain (if any) on the sale of the rental property
- The 1099S is a form that reports the proceeds of the sale of the house. It may or may not reflect the settlement costs of the property.
- The HUD document is important because it has the settlement costs you paid on the home to reduce your gain. I would request a copy from HUD because this is pertinent tax information that is beneficial to you to reduce your gain.
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