Message:

<p>[QUOTE=&quot;-jeffB, post: 1099530, member: 27832&quot;]When I was reselling stuff on eBay, I carefully recorded and reported all my profits and costs. When I stopped doing that, but still sold a few &quot;odds and ends I had around the house&quot;, I got more casual about it.</p><p><br /></p><p>I seem to remember seeing guidance in several places that you don&#039;t need to report stuff you&#039;ve sold after owning it for personal use. I think the <i>real</i> message is &quot;we&#039;re such nice guys at the IRS, if you buy something, use it for a while, then sell it <i>at a loss</i>, we won&#039;t make you go to all the <i>trouble</i> of <i>reporting</i> a loss.&quot;</p><p><br /></p><p>Actually, I guess selling something you&#039;ve &quot;used&quot; for a while starts to touch on depreciation and so forth, which really <i>is</i> too complicated for many of us to bother with.</p><p><br /></p><p>I was pretty happy to get $1500 a year or two ago for a computer that I&#039;d bought for $3300 in 1985. I&#039;m pretty sure that I couldn&#039;t have reported that as an $1800 loss. I wouldn&#039;t know where to start figuring out the <i>actual</i> reportable gain/loss for something like that.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in