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Deductions & credits
Thanks for the clarification!
In that case, since my total sales were $7,400 and I did not make a profit overall, is it correct to enter the cost basis equal to the sales price so that the taxable gain is $0 and I am not claiming any loss?
Just want to confirm that this treatment for personal-use items is correct and doesn’t raise any concerns.
Really appreciate your help
October 25, 2025
10:28 PM