capital gains tax on mobile homes on leased land?

tanamaJanuary 21, 2006

Does anyone know the capital gains rules with regards to selling a mobile home that's on leased land - aka a trailer in a trailer park?

Do "primary home" rules apply, or since it isn't real estate, does it get hit just as a regular capital gain?

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If you have been deducting mortgage interest on your past taxes, you home is probably considered real estate. But, there is an exemption of $250,000 for you and another for your wife if you have lived there at least two years. I find it hard to believe you would owe any taxes on a trailer.

If you haven't been deducting mortgage interest, who knows you have it anyway?

    Bookmark   January 21, 2006 at 7:23PM
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I agree with the above poster. I've never heard of anyone paying capital gains on a mobile home.

    Bookmark   January 22, 2006 at 9:38AM
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