The tax situation might depend on various factors, like your state's laws and your overall income. It's a good idea to check with a tax pro or use tax software to get accurate advice. In some cases, you might owe capital gains tax on the profit from the sale, but there could be exemptions too. As for the timing, taxes are usually due in quarters for freelancers and self-employed folks, but for this sale, it might be different. Again, checking with a tax expert is your best bet. As for the store providing you with an IRS form, it could be a 1099-B if they report the sale, but it's always good to ask them directly. Selling a musical instrument can be a great opportunity, just like my Irish bouzouki adventure! I found one bouzouki sale, and also I've been looking for some info regarding taxes.
