If you were reporting Rental Income and Expenses every year, and the property was set up as an Asset in this section, you would have received a Depreciation deduction each year.
If you didn't set up the property in the Asset section of Rentals, when you sell it, the IRS considers the remaining Cost Basis for reporting the sale AS IF you had claimed depreciation anyway. TurboTax will calculate this for you.
The 1099-S is not reported anywhere, just the info from it. I would suggest going to the Rental section and setting up the house as an Asset (residential real estate). Your Cost Basis would be what you paid for the property, plus any major improvements you've made. You'll separate the home/land values; you can use your property tax statement for the ratio. Then, In the Property Profile, indicate that you sold the property in 2024.
In the Asset/Depreciation section, indicate it was sold and the date, and the date you first started renting it. Then you'll confirm the depreciation that TurboTax calculated for you. On the next page, you enter the Sales Price as reported on your 1099-S, plus any Sales Expenses you incurred (broker fee, closing costs, etc.).
You will have a Capital Gain on the sale, with the calculated depreciation. It would have been to your advantage to report the sale as an Installment Sale ten years ago, but unless you want to go back and Amend ten years of tax returns, that's not a good option.
If you hadn't been reporting it as a rental, you could report the sale now as 'sale of a second home' and had less of a gain, because no depreciation would be calculated to reduce your Cost Basis.
However, depending on your income bracket, Capital Gains may not be as scary as you think. Here's more info on How Capital Gains are Taxed.
@Lacrosse36
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