The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Vehicle Sale Date:  6/24/2001  7:00 AM
Author:  ToddTruby Number:  52035 of 127616

What are the tax rules for selling a vehicle for a profit? I seem to recall that you could sell 5 vehicles a year and not be considered a dealer. I also thought that these "occasional vehicle sales" were not considered taxable income even if sold for a profit. Am I correct?

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us