Say a Pennsylvania resident sold some unwanted personal items online during 2021. All sales were for less than the purchase price (for example, sold an unwanted pair of pants for $5). Do all of these sales have to be reported on the PA income tax return?
This (https://www.revenue.pa.gov/FormsandPublications/PAPersonalIncomeTaxGuide/Pages/Gains-Losses-Sale-Exc...) seems to indicate that any sale of personal property must be reported even if it resulted in a loss. Am I reading that right?
If so, what's the procedure for doing this in TurboTax? I don;t see an obvious way to enter these types of sales in the state return.
Do these sales need to go on the Federal return too?
You'll need to sign in or create an account to connect with an expert.
I'm particularly looking at this from the link above "If a taxpayer has a loss on personal use property or other property where a loss is not permitted, the transaction must still be reported. However, in such situations, the transaction will show the sales price and basis as the same amount for Pennsylvania personal income tax purposes."
I think it's entirely possible that i'm misinterpreting what "property" is in this context
Found an answer for my question about the Federal return at least https://ttlc.intuit.com/community/tax-topics/help/do-i-have-to-report-personal-items-that-i-sold/00/....
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
violetalira09
New Member
Tom in Dunwoody
Returning Member
Martinmayer
Level 2
Doitbrightnow
New Member
kmzimm20
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.