The gain will be the difference between what you paid for the camper trailer and the selling price. The sale of personal use property that has a gain is a taxable gain, a personal loss is not used to offset other income.
If you know you have a loss you do not need to make an entry. If there is a gain you will be prompted to upgrade to TurboTax Premier.
TurboTax will step through the questions to arrive at the result. You were right, this is considered investment property.
In TurboTax (online or desktop) use these steps after you sign into your account.
-
Federal Taxes Tab
- Wages & Income
- Scroll to Investment Income
- Show more if applicable
- Stocks, mutual funds, bonds, other
- Follow the prompts
- Type of investment would be "Personal Items" (image attached)
- Continue to enter your sale description, sale date, how acquired, cost basis and purchase date.