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No - You do not have to report the sale of the mobile home as long as it was your personal residence for two of the last five years. Gain of up to $250,000 ($500,000 for married filing jointly) is excluded from tax and you do not have to include the information in your return.
The sale of a principal residence is generally not reported on a taxpayer's return unless the taxpayer:
If you wish to enter the sale of your principal residence in TurboTax to determine if there was a gain, please follow these steps:
Once you've entered all the information, TurboTax will calculate the gain for you.
For more information on selling your home, please see the follow IRS publications:
No - You do not have to report the sale of the mobile home as long as it was your personal residence for two of the last five years. Gain of up to $250,000 ($500,000 for married filing jointly) is excluded from tax and you do not have to include the information in your return.
The sale of a principal residence is generally not reported on a taxpayer's return unless the taxpayer:
If you wish to enter the sale of your principal residence in TurboTax to determine if there was a gain, please follow these steps:
Once you've entered all the information, TurboTax will calculate the gain for you.
For more information on selling your home, please see the follow IRS publications:
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