I just purchased a mobile home park in Alabama. On Turbo Tax is the mobile home park classified as "Multi-family" or as "commercial"?
I just purchased a brand new park owned mobile home for $50,000 that is being rented out. How is this classified under "Assets/Depreciation"? All I see is "Tools, Machinery, Equipment, Furniture" > Trailers and Trailer-mounted containers. Is a brand new mobile home considered as a trailer?
Lastly, what is the difference between a section 179 deduction and special depreciation? It seems like a brand new mobile home qualifies for 100% special depreciation and a full value section 179 deduction
