I owned a mobile home which I rented in 2016 and sold in 2017. Rental income was reported in 2016.In 2017 I had no rental income. Do I have to report the sale just like selling a home or not. I have heard conflicting stories on selling mobile homes not being treated for tax purposes. If it needs to be reported where should this be done in Turbo Tax and what should be done when calculating my return? Turbo Tax Tax advisor please respond to this post. Thank you.
To report the sale of a primary personal residence -
- Click on Federal Taxes (Personal using Home and Business)
- Click on Wages and Income (Personal Income using Home and Business)
- Click on I'll choose what I work on (if shown)
- Scroll down to Less Common Income
- On Sale of Home (gain or loss), click the start or update button
In this particular situation because the Mobile home was rented in 2016 only and a schedule E was done in 2016 and depreciation started, don't something have to be done on the 2017 schedule E even though no rental income was made?
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