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beckycat
New Member

Do I have to pay capital gains if I owned a mobile home and I owned the land that it was on? I owned the land and I owned the mobile home which I lived in for 2 years.

 
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DanO
New Member

Do I have to pay capital gains if I owned a mobile home and I owned the land that it was on? I owned the land and I owned the mobile home which I lived in for 2 years.

If this is considered to be your primary home, then you can claim the capital gain exclusion up to $250,000 or if married filing jointly, $500,000 as long as you haven't claimed an exclusion within the past two years.

If this is considered your second home, then you will need to report the sale and pay the capital gains.

Click here for information from TurboTax on selling a home.

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