Taxes on sale of mobile home

[d-coulombe]

We have recently sold my 90 year old mother's mobile home in January. She spent time in nursing homes but is now residing with my brother.

Her only income at the moment is Social Security and USPS Survivor benefit amounting to $2275/month.

We sold her home in January for $58,000.00 and have been using her remaining funds for her support.

How would I report this on next year's 2023 filing ? How much should I anticipate and plan to pay in federal taxes ?

Thank you for any advise.

[Bsch4477]

She is probably eligible for the capital gain exclusion. 

Qualifying for the Exclusion

In general, to qualify for the Section 121 exclusion, you must meet both the ownership test and the use test. You're eligible for the exclusion if you have owned and used your home as your main home for a period aggregating at least two years out of the five years prior to its date of sale. You can meet the ownership and use tests during different 2-year periods. However, you must meet both tests during the 5-year period ending on the date of the sale.

In which case she would owe no tax.