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Get your taxes done using TurboTax
Oh ok thank you for the clarification! How about a situation where I bought a guitar online from the UK (for £400) and ended up selling the neck and body separately, for $165 and $276 respectively? Would I be able to use the same £400 cost basis for both sales since they're separate parts from the same guitar? And would I use the current £ to $ exchange rate or use the exchange rate of when I bought the guitar, which was January 2022?
February 12, 2023
6:31 PM