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Gift sale

1 reply
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If I received a gift (Like an iPad) and sold it a few years later, (for lower than the amount that the original buyer paid) Do I pay tax on the sale?

Not A Product Question

Anonymous_Answer

Level 15

@abrooks1010 wrote:

If I received a gift (Like an iPad) and sold it a few years later, (for lower than the amount that the original buyer paid) Do I pay tax on the sale?

No, and you cannot recognize a loss either assuming the iPad was held for personal use.

Anonymous_Answer

Level 15

@abrooks1010 wrote:

If I received a gift (Like an iPad) and sold it a few years later, (for lower than the amount that the original buyer paid) Do I pay tax on the sale?

No, and you cannot recognize a loss either assuming the iPad was held for personal use.