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capital gains tax on mobile homes on leased land?
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Posted by tanama (My Page) on Sat, Jan 21, 06 at 0:47
| 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? |
Follow-Up Postings:
RE: capital gains tax on mobile homes on leased land?
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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? |
RE: capital gains tax on mobile homes on leased land?
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| I agree with the above poster. I've never heard of anyone paying capital gains on a mobile home. |
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