Sale of Mobile Home

[KristianaD]

I am seeing mixed advice out there so I wanted to ask - is a mobile home always considered a capital asset? Or does it have the opportunity to quality for the home sale exclusion if its the primary home, lived in 2+ years, etc. 

[BobKamman]

If you are seeing mixed advice, maybe you should consider cataract surgery.  

[qbteachmt · Accepted solution]

I would look at what the IRS tells you; it's in Pub 523. I googled this for you:

does mobile home qualify for primary residence tax exemption

"Finally, the exclusion can apply to many different types of housing facilities. A single-family home, a condominium, a cooperative apartment, a mobile home, and a houseboat each may be a main home and therefore qualify for the exclusion."

[sjrcpa]

FYI -  a home is a capital asset.

[sjrcpa]

Your client is having  a gain on the sale of a mobile home? That doesn't happen very often.