Are monies received from a lein sale of an RV left in storage on private property reportable / taxable?

nomad123 · ‎June 4, 2019

RV was being stored for a friend. RV was abandoned. CA DMV authorized a lein sale to cover storage expenses. Are the monies received to cover the lein taxable?

MichaelL1 · ‎June 4, 2019

It is a personal asset that was sold at a loss (as cost of RV was higher than storage fees).

So no tax impact to your return and none to friend's return.

View solution in original post

Are monies received from a lein sale of an RV left in storage on private property reportable / taxable?

Deductions & credits