My brother and I were left a Mobile Home that belonged to my Mother and Step-Father. After they both passed we were left with the mobile home in a Mobile Home Park (meaning they just leased the plot of land) it sat on.
We had to go through the Michigan to have the title transferred to both of our names. The Company that owned the Mobile Home park offered to buy the mobile home and we agreed to sell it for 12K (they originally offered 10K) - it was probably a good 30+ years old so I don't know if the 10K is FMV or what - it was never appraised as far as I know. We agreed to the sale once the title was converted to our names and the company sent us each a check for 6K each. We have seen in some cases that this is treated like a vehicle since it has a title but in other areas I've seen where taxes have to be paid. Do we have to pay taxes on the 6K we each received and if so, how do we report this (what form, etc. I have Turbo Tax Deluxe downloaded on my work station). Prior to the deaths, we were not on the Title, we were only put on the Title after death based on us having been left the mobile home in the will. Any help, direction etc. would be appreciated. We have not received any type of tax form from the company that bought the mobile home. Thanks.
