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Investors & landlords
Yes, you are correct. If you had a loss as indicated on the sales of your personal items then you have completed it correctly. Losses on the sale of personal use items are not allowed to offset other taxable income and for this reason you are not required to report the income.
If you have any gains then it would be reported under investment sales. Be sure to keep your records to show the income is not required to be reported should you need then later.
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‎February 13, 2024
7:51 AM