Hello,
I have a question because I sold some jewelry online on behalf of a family member I live with. I also sold some other stuff around the house that we no longer needed. The agreement was I could keep 100% of the profit that came from selling the jewelry. My question is since I'm not selling gifted property, but rather they are gifting me the money that comes from the profit I sold does it count as taxable? And if it is considered taxable would it be a capital gain? And if it was a capital gain, would it be considered a collectible? It wasn't really fancy jewelry, only Silpada so there would be .925 silver in it but no gold or really precious stones.
