Selling jewelry after divorce

[dbshaheen]

Do I have to pay taxes on the jewelry? My husband gave me after he divorced me I want to sell all the jewelry he gave me. Do I have to pay taxes on it

[Bsch4477]

You pay capital gains if you receive more for the items than they were worth when you got them. Otherwise there would be no tax.

[dbshaheen]

Would that be fair market value?

or what he paid  back in 2018?

[dbshaheen]

I moved from Oregon - to Texas 

[Bsch4477]

What he paid in 2018.

[dbshaheen]

I have read that an engagement ring you get after a divorce. You don’t have to pay taxes because of a gift correct when if I sell it, ? The reason Oregon to Texas because Oregon has federal and state Taxes I was living and now I’m living in Texas, which Federal taxes

[dbshaheen]

What do you mean when he paid The amount because there was no taxes the date of the sale we just pay IRS state and federal in Oregon

[VolvoGirl]

If he gave it to you as a gift then your cost basis is the same as his cost, what he originally paid for it.  Has nothing to do with federal or state income taxes, except maybe sales tax.  If he gave you a ring he paid 10,000 for then your cost is 10,000.   So if you sold it for 12,000 you have a 2,000 taxable gain.