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

Forum|Forum|4 years ago
February 18, 2022
1 reply
1 view

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?

TurboTax Online

AliciaP1

Level 13

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

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SweetieJean

Alumni - Champ

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

SweetieJean

Alumni - Champ

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

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

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