Margera, best known for starring in MTV shows 'Jackass' and 'Viva La Bam,' began tweeting about his hospital ordeal at 10:51 a.m.
Margera wrote, "Hospital radness, bam bam may have broke ribs and arm from tackling the neighbor last night!"
At 11:37 a.m., Margera tweeted the extent of some of his injuries: "Just as I thought, 3 broken ribs, still finding out about the elbow."
Celebrity gossip website TMZ is reporting that Margera was racing his neighbor up a set of stairs.
Margera apparently told the website that he promised his friend he could have Bam's skateboard if the neighbor won the race.
"Somehow I wound up tumbling down the stairs," Margera told TMZ.
As the day progressed, it appeared Margera was in good spirits after being released from the hospital. He would go on to tweet about getting a tattoo.
It was a little over a month ago, when Margera's fellow 'Jackass' cast member Ryan Dunn, along with friend Zachary Hartwell, died in a crash on Route 322 in West Goshen Township.