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<p>[QUOTE=&quot;illini420, post: 779771, member: 19423&quot;]You only owe capital GAINS taxes on your GAIN.&nbsp; So you would only owe taxes on the $200 profit (which you can reduce by your selling expenses).&nbsp; If you don&#039;t have your receipts from purchase to establish your cost basis, the government may just assume your basis is zero and tax you on the full amount realized.&nbsp; So save your receipts in case you need them.[/QUOTE]</p><p><br /></p>

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