Quote:
Originally Posted by bandrus1
you dont have to be a goodie goodie... you can get cash for that at the national
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1. if you have good record keeping you will pay only on profit which is pocketed.
2. Did you sell other items for a loss at any point to offset any profit gain?
3. If used to trade up or into something bigger you can get around capital gains altogrether if you don't take an outright cash out, depending on how you complete the transaction.
For example if you consign it to an AH, and utilize the final amount it sells for as a credit towards another purchase on that auction, you will not have to pay taxex on the sale.