If you rent it to tenants, you would treat it as a rental and report it on a Form Schedule E. Per IRS, it is depreciated over five years.
You could deduct any other rental expenses that you pay for the RV, such as mortgage interest, insurance, repairs and any utilities. To report a rental, you would need to upgrade to TurboTax Premier edition.
Please feel free to post any additional details or questions in the comment section.
