Sale of Principal Residence Question

Dec 09, 2005 2 Replies

A single person owned and lived in a mobile home on a piece of land for several years as her principal residence. She got married and removed the mobile home and put in a new mobile home; her new husband moved in and they lived there not quite 2 years.



Although the homes changed but the location remained the same, do they still meet the 2 year time frame of occupancy to exclude gain?



They moved because she found a better job 300 mi. away.



Thanks.



"Carla" wrote

As I recall, the new mobile home purchase reset the 2 year clock.

Then a partial gain exclusion applies.

Thanks for the reply. I couldn't find any reference to mobile homes in what I was looking at.

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