PROPER DISPOSITION OF SELLING OF A MOBILE HOME THAT WAS RENTED IN 2016 AND SOLD IN 2017.

[mixter-1]

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.

[Critter]

Did you ever live in the home in the past 5 years prior to the sale ?

[mixter-1]

Owned in 2001 and Lived many years in this "Mobile Home" but rented in 2016.

[Critter]

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

And if you took the depreciation as required on the Sch E then you will need to recapture it ... watch for that question in the interview. 

[mixter-1]

Critter#2 Thank you for your advice.

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?

[Critter]

Nope.

[Critter]

Well yes, in the Sch E section ... if you had the place up for rent but sold it instead you could put the holding expenses on the Sch E and sell the property thru the Sch E interview ... read the screens carefully if you go this route.