You would only normally need to report it's sale if you realized a gain on it. So, you need to determine what the basis of the property was in the hands of your relative when you received it. His or her basis would normally be what they paid for it, unless it was rented or used for business, and in that case it would be the cost less depreciation that could have been taken on it.
Your gain would be the sale amount of $27,000 less the basis described above. If that is a negative amount, then you don't have to report the sale and you can't deduct the loss on it, assuming you didn't rent it out or use it for business. If you sold it at a gain, you would report it as an investment sale in TurboTax in the Investment Income section.
If you lived in the mobile home as your primary residence for two of the previous five years and you sold it at a gain, then you may be able to exclude the gain from taxation. If so, you would report the sale of home in the Less Common Income section of TurboTax and the program will ask you questions to determine if you can exclude the gain from taxation.
On the rare chance that you were renting in out or using it for business, please let us know and we can help you with that.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
