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PostPosted: Sat Dec 09, 2017 10:00 am 
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Joined: Tue Oct 09, 2007 11:09 am
Posts: 6385
unless you made more on item than original price.

So says May 2017 Consumer Reports in answer in their letters column.

Now back to your regularly-scheduled discussion.


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PostPosted: Sat Dec 09, 2017 10:16 am 
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Joined: Tue Oct 09, 2007 10:23 am
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Location: Atlanta, Georgia
There are two kinds of tax in play here.

Capital gains would only have to be paid if you made more on the sale than you paid for the item (and then you'd have to differentiate between short-term and long-term). That seems to be what you are referring to.

But there is also sales tax. States have differing laws about whether casual yard-sale transactions are taxable. I suggest you pay $5,000 to a local tax attorney to discuss your locality's requirements.


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