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

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?

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Level 15

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

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

1 Reply
Level 15

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

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

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