We purchased a home in 2010 to be used as a rental. Our daughter fell on tough times, moved in to the house and never paid rent. The fair rental value did not exceed the annual gift exclusion. We did not take deductions on this home, and it was never shown on schedule E. We stored trailers and equipment on the property that we used for our business. Our daughter moved out in 2018. We invested in improvements so the home could be sold. It sold in 2019. The price we received was $30,000 less than our cost basis. We did receive a 1099 S from the sale. How and where do we report the sale ? Thank you for any help you can give us !
