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Business & farm
Since the instrument was personal property (used by your family), you would only report income if you sold the instrument for more than you paid for it. If you sold it for less than you paid for it, then the sale does not get entered, as losses on personal property are not deductible. See more information below:
https://ttlc.intuit.com/replies/3995054
‎June 1, 2019
9:59 AM