Quote:
Originally Posted by irmanator
yea that would be a pita. Someone told me around here if you have more than 3 yardsales a year they would make you claim it as taxable income. That is BS. I don't know about everyone but if I am selling something at a yard sale, pretty much i am getting less than i paid for it orignally so thats not really income.
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Even if you had to report it, you wouldn't owe any tax on it because you would deduct the cost of the merchandise sold. Since the cost would exceed the sale price, their would be no net profit to be taxed.
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Steve
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