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R
robertappler
February 17, 2025
Question

Hello! I purchased a mobile home in a beach community in DE. Land is leased. All cash purchase. Do I need to report this to IRS or DE State?

  • February 17, 2025
  • 1 reply
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    1 reply

    M
    MindyB
    February 17, 2025

    No, you do not need to report your purchase to either jurisdiction. ‌Delaware will not require you to file an income tax return unless you are using the home for income-producing activities or are otherwise earning Delaware-sourced income. ‌For federal purposes, you do not need to specifically report that you purchased a house, however you may deduct certain expenses, along with your main home such as property taxes (currently limited to $10,000).

     

    Here is an article you may find helpful: How Does Your Vacation Home Affect Your Taxes? 

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