DawnC
Expert Alumni

State tax filing

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.   You would only need to report the income if the sales of the personal items resulted in a gain OR if you were selling items with the intention of making profit.   Keep records of the items you sold in case you receive an inquiry so you will be able to explain why you did not report the form.  

 

Do I have to report personal items that I sold?

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