If i own a mobile home, but pay lot rental how should i file that?

[ctsamurai]

While I live in a mobile home community and pay monthly rent the mobile home i live in is paid off in my name.  Should I file as renting or owning my home?

[DanielV01]

That's actually a combination of both.  If you are paying off the trailer itself, the financing of the trailer is considered mortgage interest, and the taxes are real estate taxes.  However, the lot rental itself is rental.  Rental expense on the Federal level is not deductible, but there are some states where it is deductible.

[xmasbaby0]

RENT

There is not a rent deduction or credit on your Federal return.  If your state has anything for renters you will be prompted to enter your rent info when you complete your state return.  As far as I know, the states that have anything for rent are Arizona, California, Connecticut, Hawaii, Indiana, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New York, Rhode Island, Vermont, Washington DC, and Wisconsin.