JosephS1
Expert Alumni

Investors & landlords

Yes, you may report the auction sales by lots as that is how they were sold.  You must be able to determine the original cost value of the items sold in each lot for gain or loss reporting purposes.

 

What you are doing by selling the sales by lots is similar to selling stocks of similar attributes that are combined for single line reporting such as Short-Term, Long-Term, and the like.

 

Keep in mind there are special rules for selling personal items.  The link below should assist you in that regard and while it may not be exactly as you sold your items the rules are the same.

 

Personal Sales

 

@crkdad 

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