Inu wrote:
- quote -

It's no different than if you put the stuff out in your front yard and
had a garage sale, or placed a classified ad on Craigslist.

As Ernie said, unless you made a profit on the equipment, which would be
uncommon for personal-use property purchased at retail, no tax consequences.

-Mark Bole

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In article
<875b04a4-b349-4adb-bc06-d556770ff4cd[at]24g2000hsh.googlegroups.com> ,
Inu <Inumonk[at]gmail.com> wrote:

- quote -


You said you sold it, not donated it, so it doesn't appear that you are
looking for a charitable donation.

You say you sold it for less that you paid, so you don't have any
capital gains to report.

All you did was get some of the money back from your purchase - money
that you paid tax on when you earned it.

There does not seem to be any tax event here at all.

--
-Ernie-

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Last year I sold some old equipment (cameras, projectors) to the state
university. The total amt. of this one time sale was a bit over $500.
I sold it for less than I paid originally, but doubt I have the
original receipts. Do I have to declare this and if so, where do I
list it? How can I determine the basis for the items without receipts
and since these items are no longer in production?

I am not in business of any kind and just sold the stuff to clear out
my closets since they were sitting there for years.

Appreciate advice.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >