Where does the sale of scrap metals fall under taxes?

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Where does the sale of scrap metals fall under taxes?

Is that considered taxable income for an individual?

2007-01-28 07:57:41 · 2 answers · asked by Bill 3 in Business & Finance ➔ Taxes ➔ United States

2 answers

Yup! Sure is. If you're a scrap metals dealer you can deduct legitimate business expenses from the income you receive. If it's a one-time sale of scrap that you owned then it's fully taxable as ordinary income.

2007-01-28 08:11:13 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋

metals scrap trading.

2014-10-09 21:45:36 · answer #2 · answered by SushanA 1 · 0⤊ 0⤋