Do I report money received when I sell my personal use motorhome?

I purchased my rv for 50,000 September 2015. An rv dealer wants to buy it from me and pay me 60,000.00 cash for it. We still owe 8,450 on the loan for it. Will I need to pay federal income tax for tax year 2022?

4253

Expert Alumni

Feb 20, 2022 3:55:23 PM

Yes, you will need to report the $10,000 gain as other income on your tax return if your personal RV is not your primary residence.

[Edited 02/21/2022|09:25 AM PST]

@rcorley1

Level 15

Feb 20, 2022 4:32:51 PM

Why not? OP is selling it as a gain, and it may not be a primary residence.

Level 15

Feb 20, 2022 4:33:50 PM

Solved: I sold my RV in 2018 do I need to report it? (intuit.com)

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Do I report money received when I sell my personal use motorhome?