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Deductions & credits
If your report the sale of your personal vehicle for a gain (you sold it for more than you paid for it) in the Investments section, you will be taxed for a Capital Gain on the sale.
Here's more info on Capital Gains.
This amount is added to your Federal income, and flows into your State return, so you don't need to report it again in your state return.
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March 19, 2023
3:24 PM