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ldh26
New Member

I sold my mobile home but don't know if I have capital gains

 
1 Reply
Marketstar
Level 7

I sold my mobile home but don't know if I have capital gains

You will not pay a capital gain on the sale of your home if:

You owned and lived in your home 2 out of the last 5 years prior to the sale, and,

Your gain is less than $250,000 ($500,000 if filing Married Filing Joint).

If you lose money on the sale, the loss is not deductible.


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