In June of last year, a tree fell on my mobile home completely destroying it.
We were about 2,000 from being paid off for it. It damaged all of our master bedroom stuff clothes furniture and what not. The trailer had to be moved and disposed of.
So here's my question I owned the trailer (I was the person on the agreement for mobile home) and after I collected 5,000 from property manager in October of last year;
- I have not worked in the past year
- My husband has worked in the past year
- He is claiming me and kids on his taxes, we have already filled returns
Someone advised me about capital loss and I am not sure if it applies in my case.
If Yes, can I amend my husband's tax return to claim this capital loss?
Should I just claim on that capital loss and file a return?
These are the numbers: The mobile home would have been 20,000 after paid off. We received 5,000 and that covered only the belongings.
We personally did not have insurance this came from pocket of property management because he somewhat exerted responsibility because we asked about the tree for years and nothing was ever done and technically the 5,000 was only for our personal stuff not mobile home it's self I'm sorry hope this helps