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Updated about 17 years ago on . Most recent reply
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Mobile home tax question
Am I correct in my understanding that Mobil homes are not considered real-estate so they wouldn't be subject to capital gains? If I buy a mobile home for $1000 and sell it to someone for $3000 with financing, would I be taxed at my normal income tax rate for the profit of $2,000 and the interest I collect?
Is there anyway to defer the taxes like you can with real-estate with 1031 exchanges?