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cjmuchat
New Member

Personal property

In Massachusetts a mobile home is considered Personal Property.  I sold a mobile home for a profit but I don't know which version of Turbo tax I need to use to report this income.  all i have is receipts for all my costs.

 

Once I get the correct version of Turbo Tax what section is required to report this income? 

 

Please send email with your response.

 

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3 Replies

Personal property

Here is a previous thread that may be of help with regards to your question:

 

https://ttlc.intuit.com/community/taxes/discussion/which-version-of-turbotax-desktop-when-selling-pr... 

 

 

Personal property

To report the home sale, you will navigate through the following sections:

1. Personal Income

2. Less Common Income

3. Sale of Home (gain or loss)

 

 

LindaS5247
Expert Alumni

Personal property

It would be considered the sale of your home.

 

The sale of your home would be reported only if you had a taxable gain or received Form 1099-S

 

If you lived and owned your home for at least two years in the 5-year period on the date of sale, you don't have to report the sale on your tax return, if your gain is less than $250,000 if filing Single (and $500,000 for married filing jointly both spouses must live and own the home for 2 years).

 

I don't know all of your tax circumstances to recommend a product, but you can click here to compare TurboTax products or click here for help in contacting Turbo Tax Support. 

 

You can report the sale of a home using TurboTax Deluxe.  To enter a Form 1099-S you must use TurboTax Premier.

 

Click here for how to enter your form 1099-S.

 

Click here for how selling a home affects your taxes.


Click here for tax aspects of home ownership.

 

Click here for information on the taxability of income from sale of home.

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