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client is selling motor home for $10000.00 and using money to buy a new car. Does he claim the sale as income. It is a private sale not a trade in. If so is it claimed as other income.

momma1
Level 3
 
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4 Comments 4
IRonMaN
Level 15

Unless it was a business asset or he sold it for more than he paid for it, it wouldn't be reported.


Slava Ukraini!
momma1
Level 3

Thank you for your help. 

IRonMaN
Level 15

You betcha!


Slava Ukraini!
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BobKamman
Level 15

Unless he's selling it on eBay Motors and gets a 1099-K for it.