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https://www.kiplinger.com/article/taxes/t055-c032-s014-selling-your-stuff-the-tax-dimension.html
Apr 26, 2019 · Selling valuable stuff The IRS is not so lenient when it comes to reporting the sale of fine art, collectibles and even precious metals. When you sell any of these valuables at a profit you’ll...
https://pocketsense.com/need-pay-tax-sell-gold-jewelry-6981.html
Dec 12, 2019 · Jewelry is generally considered personal use property, since the main reason people buy jewelry is to wear it rather than to hold onto it as an investment. Net Investment Income Tax Starting …
https://smallbusiness.chron.com/need-pay-tax-sell-gold-jewelry-16685.html
According to the U.S. Internal Revenue Service (IRS), gold is considered a capital asset, with financial gain from the sale of gold considered capital gain. Earnings from the sale of gold jewelry...
https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/i-inherited-jewelry-then-sold-it-is-this-money-taxable/00/101674
Jun 01, 2019 · The Jewelry in itself is not Taxable but it is possible that the profit on the sale of the items is. This profit is based on the Fair Market Value of the items. At the time that you inherited the …
https://sellmy.jewelry/posts/sell-my-diamond-engagement-ring-tax-implications
Apr 18, 2016 · Again, because, most consumers do not profit when they sell their jewelry, so there is no tax liability. While there is no liability, you cannot write off the loss against your taxes either. Put another way, you cannot deduct the loss from the taxes. However, selling your jewelry …5/5(6)
https://ttlc.intuit.com/community/tax-topics/help/do-i-have-to-report-personal-items-that-i-sold/00/26291
Dec 14, 2020 · The IRS won't let you deduct losses on personal items.) Here's an example: you purchased a vintage nut grinder you purchased for $5 in 1972 and recently sold on eBay for $75. …
https://www.livemint.com/Money/t8MYQboY3sErxfvrjyvGXM/You-have-to-pay-tax-on-capital-gains-from-sale-of-jewellery.html
If the cumulative period you and your mother or grandmother held the jewellery exceeds 36 months, the gains arising from the sale are taxable as long-term capital gains (LTCG), taxed at the rate of...
https://turbotax.intuit.com/tax-tips/self-employment-taxes/tax-tips-for-selling-your-handmade-items-online/L7W21U9cC
Your net income is the money you make selling your handmade items, minus eligible business expenses. When you file your tax return, fill out Schedule C. You only pay tax on the net profit—the …
https://www.quora.com/If-I-sell-some-personal-items-do-I-have-to-pay-tax-on-them-as-my-income
Theoretically yes. In reality, unless the IRS can prove you sold the item, no. You need to account for ALL the income that you make, if reported on your W-2 or if you find a dollar on the ground. If you did make some money selling …
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