Is a mobile home sold considered a regular home

loonie01 — Thu, 06 Jun 2019 09:58:35 GMT

If I had a loan on a mobile home and sold it for what was owed, is this considered a "home sale"?

Yes, it is considered a home, if that is where you lived....

MargaretL — Thu, 06 Jun 2019 09:58:35 GMT

Yes, it is considered a home, if that is where you lived. It may be considered a 2nd home as well, if you had a different primary home, and just held a mobile home.

The sale of your home is reported only if you have taxable gain or received Form 1099-S. If you lived and owned your home for at least two years in the 5 year period on the date of sale - you don't have to report the on your tax return- if your gain is less than $250,000 if filing Single (and $500,000 for married filing jointly both spouses must live and own the home for 2 years).

If your gain is larger than the amounts above (or received 1099-S) you must report the sale

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topic Is a mobile home sold considered a regular home in Deductions & credits

Is a mobile home sold considered a regular home

Yes, it is considered a home, if that is where you lived....