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I work a full-time job but would like extra cash so I wanted to sell my art. Would I have to include it in my taxes or get in trouble if I don't? How would I tax it?
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posted
April 11, 2020
8:52 AM
last updated
April 11, 2020
8:52 AM
3 Replies

Anonymous
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I work a full-time job but would like extra cash so I wanted to sell my art. Would I have to include it in my taxes or get in trouble if I don't? How would I tax it?
you are would be a collectible.
gains would be taxable and reported on schedule D (actually form 8949 with the collectibles box checked0
losses are a different story
Losses from selling collectible assets are deductible capital losses provided that the taxpayer held the collectible for investment purposes rather than personal purposes.
April 11, 2020
9:52 AM
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I work a full-time job but would like extra cash so I wanted to sell my art. Would I have to include it in my taxes or get in trouble if I don't? How would I tax it?
So if I'm using it for personal reasons like take out I wouldn't have to include it?
April 11, 2020
11:11 AM
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I work a full-time job but would like extra cash so I wanted to sell my art. Would I have to include it in my taxes or get in trouble if I don't? How would I tax it?
are you talking about the art works of others or your own art ?
April 11, 2020
11:22 AM
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