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Financial Planning / Tax Strategies


Subject:  Vehicle Sale Date:  6/24/2001  7:00 AM
Author:  ToddTruby Number:  52035 of 124774

What are the tax rules for selling a vehicle for a profit? I seem to recall that you could sell 5 vehicles a year and not be considered a dealer. I also thought that these "occasional vehicle sales" were not considered taxable income even if sold for a profit. Am I correct?

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