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Subject:  Taxes on Ebay sales and basis of items sold Date:  1/6/2001  8:24 AM
Author:  ChuckEdmondson Number:  43981 of 127753

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?

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