Yes, for questions 1 and 2. Generally, the person responsible for closing the transaction is required to file Form 1099-S. If no one is responsible for closing the transaction, the person responsible for filing the 1099-S is, in the following order: (a) the mortgage lender, (b) the transferor's broker, (c) the transferee's broker, or (d) the transferee. However, you may designate the person required to file Form 1099-S in a written agreement.
Yes, you do need to file Form 1065 if your LLC is a partnership. If it were not a partnership but were instead a LLC with yourself as sole owner, then your LLC would be considered a single member LLC (SMLLC) and you would not need to file a Form 1065 because a SMLLC cannot be a partnership (you need at least two persons to have a partnership).
Yes, you would also need to account for the depreciation, not only to enter a correct basis, but also in the event there is some depreciation recapture that needs to be included on your return. Remember to separate the cost of the land from the cost of the structure because you cannot depreciate land.
Because Form 4797 is used to report the sale or exchange of real property used in a trade or business, such as your rental property, you will need to complete Form 4797.
CC Investments
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