Tag Archives: Garage Sale

Garage Sales

Today TaxMama® hears from John in the TaxQuips Forum with a sensible question. “Are garage sales reportable? I have never heard of anyone reporting garage sales. I assume everyone guesses their basis exceeds the gross proceeds and personal losses are disallowed.”

eBay Cleans Out Closet

Today Melissa from Dallas, TX asks. “I sold a bunch of old stuff on eBay this year – an old trumpet, music and concert memorabilia, old clothes. Just cleaning out our closets, but I was amazed at how much we’ve made so far! Do we have to pay taxes on this income? I’ve heard different […]