Garage sale items

Thankis81 — Tue, 10 Mar 2026 05:44:27 GMT

What if the items I am selling are old garage sale type items? I am losing money on them, but don’t have receipts because the items are old and used. Gross receipts of maybe $1,000 for the entire year.

Re: Garage sale items

Anonymous_ — Wed, 31 Aug 2022 16:22:00 GMT

You generally need to be able to show your basis in the items or the IRS can simply assign a zero ($0) basis.

Any form of documentation is useful, even pictures of the items.

Note that you cannot deduct a loss on items held for personal use.

topic Garage sale items in Self employed

Garage sale items

Re: Garage sale items