|
The Motley Fool Discussion Boards
|
Previous Page | |
|
Financial Planning / Tax Strategies |
||
|
URL:
http://boards.fool.com/taxes-on-ebay-sales-and-basis-of-items-sold-14044712.aspx
|
||
| Subject: Taxes on Ebay sales and basis of items sold | Date: 1/6/2001 8:24 AM | |
| Author: ChuckEdmondson | Number: 43981 of 118626 | |
|
I have two questions regarding the tax reporting of Ebay sales. I have sold numerous items for a substantial amount. I am not a dealer, rather I simply want to reduce the amount of "things" in my life as I approach retirement. I have complete documentation of the cost basis of each of these items. Can I simply report the gain as a single schedule D entry for "Ebay items sold"? (All are long-term). Or should I itemize each separately? The second question is the cost basis of "things" inherited from my parents. Would these be considered to have a stepped-up basis as do inherited securities? Or if I sell collectibles I received from my parents would the entire sale price be taxable? Chuck |
||
| Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us | ||