I lived in my mobile home for over 40 years. It was my primary and only residence. I sold it last year in 2024 for $43,000. Do I need to report this on my tax return?

[dmenikas]

I lived in my mobile home for over 40 years. It was my primary and only residence. I sold it last year in 2024 for $43,000. Do I need to report this on my tax return? I believe I do not have to report it but trying to understand the section 121. I did not receive a 1099 s for the sale.

[DoninGA]

Since the gain on the personal residence is below the exclusion amount and you did not receive a Form 1099-S you do not have to report the sale on a tax return.

[ThomasM125]

If you had a loss on the sale, you would not need to report it. Otherwise, you would only need to report it if you didn't qualify for the gain exclusion on sale of your primary home or you chose not to take it, for instance if you wanted to use the exclusion on the sale of another home within two years from the sale of this one.

You would enter the sale if necessary in the Wages and Income section, then Less Common Income, then Sale of Home (gain or loss). 

[malakikh]

Thanks, so if I dont plan on using the exclusion in the future, I can just leave it blank? It only sold for $43,000

[DawnC]

Yes, you can leave it blank and skip the entry.