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Deductions & credits
If you purchase an item for personal use and later sell it for less than you paid for it then you do not owe taxes on the sale. Nor do you have a loss you can deduct against other income. You may still be required to report the sale on your tax return. We can help you report the income and then zero it out so you won’t have to pay tax on it. The forms ad details to do that are still being worked out.
October 27, 2024
5:01 PM
22,810 Views