State of Georgia.
2006-09-16 08:32:33 · 5 answers · asked by Bill 3 in Business & Finance ➔ Taxes ➔ United States
Not unless you made a profit on them, or depreciated them as business assets. The assumption is that you bought them with income you had already payed taxes on.
2006-09-16 08:34:51 · answer #1 · answered by Dave 4 · 1⤊ 0⤋
If you sold them for more than your "basis." Basis is the amount you paid plus any depreciation allowed or allowable. For depreciation to be pertinent you would have used it in a trade or business.
2006-09-16 13:44:49 · answer #2 · answered by Scott K 7 · 0⤊ 0⤋
I don't believe that it is income. it was your stuff...you already paid taxes on the money when you made it... Consider it recycling!
2006-09-16 08:36:36 · answer #3 · answered by jnmcmlln 2 · 0⤊ 1⤋
You would pay tax to any 'gain'. if you are selling 'old stuff', I doubt you have any gain.
2006-09-17 07:32:06 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋
Not if you sold it for less than you paid.
2006-09-16 09:10:16 · answer #5 · answered by Oh Boy! 5 · 1⤊ 0⤋