I sold a 40 year old musical instrument for about $700 more than my parents paid for it when purchased for me as a child. How do I report this sale?

billycee — Tue, 04 Jun 2019 19:38:16 GMT

To reports gains/losses allowed go to type "Investment In...

maglib — Tue, 04 Jun 2019 19:38:18 GMT

To reports gains/losses allowed go to type "Investment Income" without the quotes in the search box, select "Investment Income, gains & Losses" and choose to JUMP TO, It will ask if you sold any invesments, say yes, select NO to the 1099-B question, Choose "Personal Items" as the category then enter the information.

I hope this was helpful?

topic I sold a 40 year old musical instrument for about $700 more than my parents paid for it when purchased for me as a child. How do I report this sale? in Get your taxes done using TurboTax

I sold a 40 year old musical instrument for about $700 more than my parents paid for it when purchased for me as a child. How do I report this sale?

To reports gains/losses allowed go to type "Investment In...