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Get your taxes done using TurboTax
Yes, however you must report any gain you received on specific items when and if that occurs. And by reporting the sales this way you are also indicating you are not in the business of buying and reselling items regularly for your livelihood.
You are not required to report sales of personal items that are sold at a loss. The reporting requirements have been updated for the third party handling the money transaction for individuals.
You may want to review the business versus hobby rules as well so I have included a link for you.
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‎April 7, 2022
6:21 AM