Tax help! Closing a sale monday

[Chris E.]

So we (My fiance and I) are selling a house on monday that we bought earlier this year. We were going to keep it as a vacation rental but decided to sell instead because we need the money to fix another house we bought at the same time. My question relates to the taxes on this. The title company wants to know how we want to take the check from the sale because they will be issuing a 1099. Does this mean were going to be paying tax on the total coming from the title company? We bought the house with cash and have no leins on it so were basically getting a check for the sale price.