DawnC
Expert Alumni

Get your taxes done using TurboTax

Most of the time, personally-owned stuff like cars, appliances, clothing, furniture, and other household items decrease in value after the initial purchase. If you later sell them, it's almost always for less than what you paid, so there's no gain to report. There's also no loss. The IRS won't let you deduct losses on personal items.  

 

Here's an example: you purchased a vintage nut grinder for $5 in 1972 and recently sold it on eBay for $75. You'd have to report the $70 profit as an investment sale.

 

 

Where do I enter investment sales?

 

If this was yard sale type stuff, just keep records of the items and as long as you did not have any personal gains, you don't have to report.  Keep detailed records in case of an inquiry.  @Oscar222

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