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Message:: [QUOTE="rodeoclown, post: 1294601, member: 34005"]To the OP, you didn't pay a sales tax since you do not reside in California where the sale took place when you bought the item from your computer residing in Georgia. That's the reason for that. As for selling items, technically by law, selling something you own (regardless if you paid for it with money you were already taxed on) is considered income to you, so yes, it's taxable but like so many others have said, talk to an accountant that specialized in taxes. The keyword here is called capital gain. Say you bought one of those coins for $20 bucks and turn around and sell it for $100. That's considered capital gain and you report it under such section when you file for taxes. The other kicker here is, if you bought that coin for $20 and then ended up losing money by only getting $10 in the sale, the IRS is not gonna bother or care if you put that on your tax return or not, since you lost money. It's like garage sales, the IRS doesn't usually care if you have 1 or 2 a year, no need to report the income because they realize most people are selling used items for way less than they originally bought them for. But if you tried to get away with having a 100 garage sales a year and you got audited and the IRS saw you just depositing tons of money that were not on any W2 or 1099 forms from an employer, then it's gonna raise some eyebrows and you'll likely be paying taxes on such income, etc.[/QUOTE]