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Get your taxes done using TurboTax
They were not purchased for the purpose of resale. They were items I bought to keep/use for the sake of my hobby, then their value went up significantly so I sold some of it to be able to purchase other hobby related items (again, retail type items). It was stuff like shoes, fishing rods, and backpacks (not necessarily those specifically, just clarifying that it was retail type items). Much of it was still unused when sold.
What page of TT would I enter it?
I thought it went in Personal Income > Less Common Income > Misc Income > Hobby income expenses > Income received (and possibly Hobby expense??)
If these are capital assets, would it still go in Hobby income? I'm just trying to figure out the right place to input the numbers.
‎December 16, 2023
2:27 PM