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How do I categorize the cash received from the sale of a RV.
We bought a camping trailer in 2012 for 16,000 and sold it in 2016 for 10,500. This isn't considered taxable income is it? How would I categorize the proceeds from the sale?
You don't have to report a sale of personal use property, such as an RV if you sell it for less than you paid for it. You can't take a loss on sale of personal use property.
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